309 N 6th StColemanMI48618
Nearby investment properties with comparable rents
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
Rental property for sale in Coleman at 309 N 6th St, Coleman, MI, 48618 offers $1,799/mo rent that, after a $978/mo payment, leaves $481/mo cash flow. Total monthly income is $1,799/mo, and annual cash flow is $5,774/yr on $66,267 cash. Return on cash invested measures 28.62% in year one, and rental yield stands at 10.8% at a $199,900 entry. Equity gained on principal adds $1,290/yr while 5% annual appreciation compounds into $55,229 by year five. Five-year ROI records 150.16% and total cumulative return in cash reaches $99,505. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,799/mo property income versus a $978/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1904
0.41 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48618, Coleman, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,407 (100%) |
| Owner Occupied HU | 1,844 (76.6%) |
| Renter Occupied HU | 340 (14.1%) |
| Vacant Housing Units | 223 ( 9.3%) |
| Median Home Value | $162,598 |
| Average Home Value | $198,128 |
Housing Distribution
Address Breakdown
Residential
2,209
Single Family
2,150
Multi-Family
59
Businesses
89
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Nearby investment properties with comparable prices
Listed by: Betsy Kirkby • ERA Greater North Properties
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1929689
Disclaimer: The information in this listing was gathered from third-party sources including the seller. Northern Great Lakes REALTORS MLS and its subscribers disclaim any and all representations or warranties as to the accuracy of this information. Copyright 2024 Northern Great Lakes REALTORS MLS. All Rights Reserved.