3040 Luella LnSpringportMI49284
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Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Investment property for sale in Springport at 3040 Luella Ln, Springport, MI, 49284 offers a 9.65% rental yield on a $189,900 purchase with $1,527/mo rent. Total monthly income registers $1,527/mo, and a $929/mo payment leaves $275/mo available for distribution. Annual cash flow reaches $3,302/yr on $62,952 to close, and return on cash invested stands at 25.15% in year one. Equity gained on principal adds $1,225/yr while 5% annual appreciation supports $52,466 over five years. Portfolio math shows five-year ROI at 131.56% and total cumulative return in cash at $82,817. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,527/mo property income against a $929/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1940
9,147 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49284, Springport, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,525 (100%) |
| Owner Occupied HU | 1,110 (72.8%) |
| Renter Occupied HU | 182 (11.9%) |
| Vacant Housing Units | 233 (15.3%) |
| Median Home Value | $235,061 |
| Average Home Value | $285,342 |
Housing Distribution
Address Breakdown
Residential
1,174
Single Family
1,174
Multi-Family
0
Businesses
54
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Listed by: Mark Goedert • Goedert Real Estate - Adr
Mls Name: MiRealSource
Mls ID: #50183544