348 Fairfax StErieMI48133
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
Investment Highlights
Investment property for sale in Erie at 348 Fairfax St, Erie, MI, 48133 offers a 9.2% rental yield on a $160,900 purchase with $1,234/mo rent. Total monthly income registers $1,234/mo, and a $788/mo payment leaves $172/mo available for distribution. Annual cash flow reaches $2,070/yr on $53,338 to close, and return on cash invested stands at 23.79% in year one. Equity gained on principal adds $1,038/yr while 5% annual appreciation supports $44,454 over five years. Portfolio math shows five-year ROI at 124.23% and total cumulative return in cash at $66,260. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,234/mo property income against a $788/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
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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