33542 Meldrum St #27New BaltimoreMI48047
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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
Investment property for sale in New Baltimore at 33542 Meldrum St #27, New Baltimore, MI, 48047 uses $58,012 cash to close to unlock $1,998/yr annual cash flow and $167/mo monthly cash flow. Total monthly income runs $1,321/mo, and a $857/mo payment keeps the spread at $167/mo. Purchase price stands at $174,999, and rental yield measures 9.06% with $1,321/mo rent. Return on cash invested shows 23.35% in year one, and 5% annual appreciation builds toward $48,349 over five years. Five-year ROI reaches 121.89% and total cumulative return in cash records $70,711. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,321/mo property income covering a $857/mo payment rather than investor’s personal income.
Condo
Built in 1989
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48047, New Baltimore, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,500 (100%) |
| Owner Occupied HU | 13,018 (78.9%) |
| Renter Occupied HU | 2,935 (17.8%) |
| Vacant Housing Units | 547 ( 3.3%) |
| Median Home Value | $331,383 |
| Average Home Value | $354,784 |
Housing Distribution
Address Breakdown
Residential
16,408
Single Family
15,958
Multi-Family
450
Businesses
771
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Listed by: Jason Cornthwaite • RE/MAX First
Mls Name: MiRealSource
Mls ID: #50184418