500 Woodingham Dr APT 15East 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 Woodingham Dr APT 15, East Lansing, MI, 48823 earns $576/mo cash flow from $1,708/mo rent with a $587/mo payment. Total monthly income totals $1,708/mo, and annual cash flow totals $6,908/yr on $39,780 capital. ROI tracks 37.28% on current figures, and rental yield reads 17.08% at a $120,000 purchase. Equity gained on principal adds $774/yr, and 5% annual appreciation supports $33,154 over five years. Five-year ROI reaches 200.29% and total cumulative return in cash sums $79,675. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,708/mo property income instead of your personal income.
Condo
Built in 1972
N/A lot
$N/A/sqft
$336 monthly 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: MIKE SELLECK • RICHARD SELLECK AGENCY
Mls Name: MiRealSource
Mls Provider:
Mls ID: #50144305
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