3380 Norvell RdGrass LakeMI49240
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowDay-one income is the story at 3380 Norvell Rd, Grass Lake, MI, 49240 in Grass Lake. Priced at $515,000, it generates $4,297/mo in gross rent and $901/mo in net monthly cash flow, a 10.01% yield that comfortably supports the 1.86 DSCR needed for Ziffy Mortgage's no-W2 DSCR mortgage. Projected annual cash flow: $10,812. Five-year appreciation: $142,285. Equity from principal paydown: $4,743/yr. Total projected cumulative return: $254,157.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10% | 8.0% |
| Monthly Cash Flow | $901 | $300 |
City averages based on Grass Lake market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $4,297 |
| Total Monthly Debt Service | $3,191 |
| DSCR Ratio | 1.35x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1999
5.96 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49240, Grass Lake, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,858 (100%) |
| Owner Occupied HU | 3,252 (84.3%) |
| Renter Occupied HU | 289 ( 7.5%) |
| Vacant Housing Units | 317 ( 8.2%) |
| Median Home Value | $321,804 |
| Average Home Value | $356,895 |
Housing Distribution
Address Breakdown
Residential
3,700
Single Family
3,700
Multi-Family
0
Businesses
133
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
Single Family
Built in 1999
5.96 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49240, Grass Lake, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,858 (100%) |
| Owner Occupied HU | 3,252 (84.3%) |
| Renter Occupied HU | 289 ( 7.5%) |
| Vacant Housing Units | 317 ( 8.2%) |
| Median Home Value | $321,804 |
| Average Home Value | $356,895 |
Housing Distribution
Address Breakdown
Residential
3,700
Single Family
3,700
Multi-Family
0
Businesses
133
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jarchow & Lester • PRODUCTION REALTY - GRASS LAKE
Mls Name: MichRIC
Mls Provider:
Mls ID: #25021736
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2025 MichRIC, LLC. All rights reserved.