312 E State StVernonMI48476
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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 Vernon at 312 E State St, Vernon, MI, 48476 priced at $160,000 converts $2,030/mo rent into $975/mo cash flow after a $783/mo obligation. Total monthly income equals $2,030/mo, and annual cash flow totals $11,700/yr on $53,040 invested. Return on cash invested prints 41.97% in year one, and rental yield reads 15.22% against a $160,000 entry. Equity gained on principal adds $1,032/yr, while 5% annual appreciation compiles into $44,205 by year five. Five-year ROI reaches 221.65% and total cumulative return in cash sums $117,566. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,030/mo property income covering a $783/mo payment, not borrower’s personal income.
Single Family
Built in 1973
0.41 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48476, Vernon, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 229 (100%) |
| Owner Occupied HU | 184 (80.3%) |
| Renter Occupied HU | 25 (10.9%) |
| Vacant Housing Units | 20 ( 8.7%) |
| Median Home Value | $186,667 |
| Average Home Value | $203,247 |
Housing Distribution
Address Breakdown
Residential
1
Single Family
1
Multi-Family
0
Businesses
21
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