509 E Filer 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 509 E Filer St, Ludington, MI, 49431 priced at $380,000 converts $2,066/mo rent into after a $1,860/mo obligation. Total monthly income equals $2,066/mo. Return on cash invested prints 15.72% in year one, and rental yield reads 6.52% against a $380,000 entry. Equity gained on principal adds $2,452/yr, while 5% annual appreciation compiles into $104,987 by year five. Five-year ROI reaches 80.89% and total cumulative return in cash sums $101,893. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,066/mo property income covering a $1,860/mo payment, not borrower’s personal income.
Single Family
Built in 1903
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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