502 3rd 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
Rental property for sale in Ludington at 502 3rd St, Ludington, MI, 49431 generates $1,920/mo in rent and, after a $1,121/mo payment, leaves $410/mo in cash flow. Total monthly income is $1,920/mo, and annual cash flow is $4,916/yr on $75,914 invested. Return on cash invested sits at 26.39% in year one, and rental yield is 10.06% on a $229,000 entry. Equity gained on principal adds $1,478/yr, while 5% annual appreciation builds toward $63,268 over five years. Five-year ROI reaches 138.12% and total cumulative return in cash sums $104,849. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,920/mo property income rather than buyer’s personal income.
Multi Family
Built in 1900
8,276 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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