514 Mine StNorwayMI49870
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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 Norway at 514 Mine St, Norway, MI, 49870 generates $805/mo in rent and, after a $513/mo payment, leaves $114/mo in cash flow. Total monthly income is $805/mo, and annual cash flow is $1,364/yr on $34,774 invested. Return on cash invested sits at 23.83% in year one, and rental yield is 9.21% on a $104,900 entry. Equity gained on principal adds $677/yr, while 5% annual appreciation builds toward $28,982 over five years. Five-year ROI reaches 124.45% and total cumulative return in cash sums $43,278. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $805/mo property income rather than buyer’s personal income.
Single Family
Built in 1915
6,098 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49870, Norway, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,591 (100%) |
| Owner Occupied HU | 1,119 (70.3%) |
| Renter Occupied HU | 315 (19.8%) |
| Vacant Housing Units | 157 ( 9.9%) |
| Median Home Value | $161,773 |
| Average Home Value | $196,988 |
Housing Distribution
Address Breakdown
Residential
1,481
Single Family
1,397
Multi-Family
84
Businesses
136
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