509 Cornell AveEast 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 509 Cornell Ave, East Lansing, MI, 48823 with 5% annual appreciation on a $395,000 basis while $3,266/mo rent supports operations. Total monthly income totals $3,266/mo and a $1,933/mo payment preserves $662/mo for cash returns. Annual cash flow comes to $7,938/yr on $130,943 deployed, and return on cash invested reaches 25.97% in year one. Equity gained on principal adds $2,549/yr, and five-year appreciation sums $109,131 alongside rental yield of 9.92%. Five-year ROI measures 135.89% and total cumulative return in cash totals $177,942.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $3,266/mo property income versus a $1,933/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Single Family
Built in 1973
5,227 sqft 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: Megan Busque • RE/MAX Real Estate Professionals
Mls Name: Greater Lansing AOR
Mls ID: #291661