502 Gainsborough DrEast LansingMI48823
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
Investment property for sale in East Lansing at 502 Gainsborough Dr, East Lansing, MI, 48823 uses $94,478 cash to close to unlock $9,030/yr annual cash flow and $753/mo monthly cash flow. Total monthly income runs $2,632/mo, and a $1,395/mo payment keeps the spread at $753/mo. Purchase price stands at $285,000, and rental yield measures 11.08% with $2,632/mo rent. Return on cash invested shows 29.47% in year one, and 5% annual appreciation builds toward $78,740 over five years. Five-year ROI reaches 154.63% and total cumulative return in cash records $146,094. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,632/mo property income covering a $1,395/mo payment rather than investor’s personal income.
Single Family
Built in 1962
0.34 Acres 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: David M Bueche • Musselman Realty Company
Mls Name: Greater Lansing AOR
Mls ID: #293399