408 E Melendy StLudingtonMI49431
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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 Ludington at 408 E Melendy St, Ludington, MI, 49431 offers a 12.16% rental yield on a $119,900 purchase with $1,215/mo rent. Total monthly income registers $1,215/mo, and a $587/mo payment leaves $424/mo available for distribution. Annual cash flow reaches $5,090/yr on $39,747 to close, and return on cash invested stands at 32.72% in year one. Equity gained on principal adds $774/yr while 5% annual appreciation supports $33,126 over five years. Portfolio math shows five-year ROI at 172.18% and total cumulative return in cash at $68,436. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,215/mo property income against a $587/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Multi Family
Built in 1900
4,200 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49431, Ludington, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,373 (100%) |
| Owner Occupied HU | 5,754 (55.5%) |
| Renter Occupied HU | 1,973 (19.0%) |
| Vacant Housing Units | 2,646 (25.5%) |
| Median Home Value | $238,393 |
| Average Home Value | $281,324 |
Housing Distribution
Address Breakdown
Residential
8,827
Single Family
7,558
Multi-Family
1,269
Businesses
857
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