500 E Michigan Ave #415East LansingMI48823
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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 East Lansing at 500 E Michigan Ave #415, East Lansing, MI, 48823 listed at $315,500 pairs $2,352/mo rent with a $1,544/mo payment to leave $272/mo cash flow. Total monthly income runs $2,352/mo, and annual cash flow reaches $3,260/yr on $104,588 cash to close. Return on cash invested measures 23.03% in year one, and rental yield registers 8.95% at a $315,500 basis. Equity gained on principal adds $2,036/yr, and annual property appreciation at 5% supports $87,167 by year five. Five-year ROI tracks 120.1% and total cumulative return in cash totals $125,610. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,352/mo property income relative to a $1,544/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 2007
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48823, East Lansing, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,865 (100%) |
| Owner Occupied HU | 10,317 (39.9%) |
| Renter Occupied HU | 13,227 (51.1%) |
| Vacant Housing Units | 2,321 ( 9.0%) |
| Median Home Value | $296,966 |
| Average Home Value | $329,463 |
Housing Distribution
Address Breakdown
Residential
23,522
Single Family
14,377
Multi-Family
9,145
Businesses
1,219
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Listed by: The Laforet Team • RE/MAX Real Estate Professionals
Mls Name: Greater Lansing AOR
Mls ID: #292242