320 N Elm StIthacaMI48847
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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 Ithaca at 320 N Elm St, Ithaca, MI, 48847 priced at $134,900 converts $2,564/mo rent into $1,675/mo cash flow after a $660/mo obligation. Total monthly income equals $2,564/mo, and annual cash flow totals $20,096/yr on $44,719 invested. Return on cash invested prints 64.85% in year one, and rental yield reads 22.81% against a $134,900 entry. Equity gained on principal adds $870/yr, while 5% annual appreciation compiles into $37,270 by year five. Five-year ROI reaches 344.4% and total cumulative return in cash sums $154,013. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,564/mo property income covering a $660/mo payment, not borrower’s personal income.
Single Family
Built in 1890
10,454 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48847, Ithaca, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,615 (100%) |
| Owner Occupied HU | 1,866 (71.4%) |
| Renter Occupied HU | 523 (20.0%) |
| Vacant Housing Units | 226 ( 8.6%) |
| Median Home Value | $169,856 |
| Average Home Value | $200,805 |
Housing Distribution
Address Breakdown
Residential
2,528
Single Family
2,462
Multi-Family
66
Businesses
239
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Listed by: Dianne Beard • AMERICA'S CHOICE REALTY LLC
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1925825
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.