3215 Wadhams RdNorth StreetMI48049
Nearby investment properties with comparable rents
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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 North Street at 3215 Wadhams Rd, North Street, MI, 48049 generates $1,583/mo in rent and, after a $881/mo payment, leaves $396/mo in cash flow. Total monthly income is $1,583/mo, and annual cash flow is $4,754/yr on $59,637 invested. Return on cash invested sits at 27.88% in year one, and rental yield is 10.56% on a $179,900 entry. Equity gained on principal adds $1,161/yr, while 5% annual appreciation builds toward $49,703 over five years. Five-year ROI reaches 146.2% and total cumulative return in cash sums $87,189. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,583/mo property income rather than buyer’s personal income.
Single Family
Built in 1946
1.08 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48049, North Street, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,178 (100%) |
| Owner Occupied HU | 1,956 (89.8%) |
| Renter Occupied HU | 155 ( 7.1%) |
| Vacant Housing Units | 67 ( 3.1%) |
| Median Home Value | $267,787 |
| Average Home Value | $279,720 |
Housing Distribution
Address Breakdown
Residential
2,150
Single Family
2,150
Multi-Family
0
Businesses
40
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Listed by: Daniel Lovell • Ironstone Realty
Mls Name: MiRealSource
Mls ID: #50187985