342 Fairfax StErieMI48133
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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 Erie at 342 Fairfax St, Erie, MI, 48133 generates $1,252/mo in rent and, after a $788/mo payment, leaves $190/mo in cash flow. Total monthly income is $1,252/mo, and annual cash flow is $2,286/yr on $53,338 invested. Return on cash invested sits at 24.19% in year one, and rental yield is 9.34% on a $160,900 entry. Equity gained on principal adds $1,038/yr, while 5% annual appreciation builds toward $44,454 over five years. Five-year ROI reaches 126.41% and total cumulative return in cash sums $67,424. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,252/mo property income rather than buyer’s personal income.
Manufactured
Built in 2023
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48133, Erie, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,167 (100%) |
| Owner Occupied HU | 1,767 (81.5%) |
| Renter Occupied HU | 225 (10.4%) |
| Vacant Housing Units | 175 ( 8.1%) |
| Median Home Value | $236,638 |
| Average Home Value | $248,434 |
Housing Distribution
Address Breakdown
Residential
2,474
Single Family
2,474
Multi-Family
0
Businesses
131
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