371 Ferris StHarbor BeachMI48441
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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 Harbor Beach at 371 Ferris St, Harbor Beach, MI, 48441 priced at $189,000 converts $1,462/mo rent into $216/mo cash flow after a $925/mo obligation. Total monthly income equals $1,462/mo, and annual cash flow totals $2,588/yr on $62,654 invested. Return on cash invested prints 24.04% in year one, and rental yield reads 9.28% against a $189,000 entry. Equity gained on principal adds $1,220/yr, while 5% annual appreciation compiles into $52,217 by year five. Five-year ROI reaches 125.55% and total cumulative return in cash sums $78,658. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,462/mo property income covering a $925/mo payment, not borrower’s personal income.
Single Family
Built in 1974
10,454 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48441, Harbor Beach, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,171 (100%) |
| Owner Occupied HU | 1,377 (63.4%) |
| Renter Occupied HU | 292 (13.5%) |
| Vacant Housing Units | 502 (23.1%) |
| Median Home Value | $174,589 |
| Average Home Value | $232,275 |
Housing Distribution
Address Breakdown
Residential
1,875
Single Family
1,790
Multi-Family
85
Businesses
122
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