455 E Gorman RdSaint IgnaceMI49781
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
Rental property for sale in Saint Ignace at 455 E Gorman Rd, Saint Ignace, MI, 49781 priced at $187,500 converts $2,640/mo rent into $1,403/mo cash flow after a $918/mo obligation. Total monthly income equals $2,640/mo, and annual cash flow totals $16,839/yr on $62,156 invested. Return on cash invested prints 47% in year one, and rental yield reads 16.9% against a $187,500 entry. Equity gained on principal adds $1,210/yr, while 5% annual appreciation compiles into $51,803 by year five. Five-year ROI reaches 248.69% and total cumulative return in cash sums $154,579. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,640/mo property income covering a $918/mo payment, not borrower’s personal income.
Single Family
Built in 1940
2 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49781, Saint Ignace, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,663 (100%) |
| Owner Occupied HU | 1,415 (53.1%) |
| Renter Occupied HU | 507 (19.0%) |
| Vacant Housing Units | 741 (27.8%) |
| Median Home Value | $170,180 |
| Average Home Value | $232,984 |
Housing Distribution
Address Breakdown
Residential
1,947
Single Family
1,766
Multi-Family
181
Businesses
232
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Barbara Yshinski • COLDWELL BANKER SCHMIDT - CEDARVILLE
Mls Name: EUPBR
Mls Provider:
Mls ID: #24-841
Disclaimer: Copyright Eastern Upper Peninsula Board of Realtors. All rights reserved. Information is deemed reliable but not guaranteed. The listing brokers offer of compensation is made only to participants of the MLS where the listing is filed.