515 Oak StNilesMI49120
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
Rental property for sale in Niles at 515 Oak St, Niles, MI, 49120 offers $3,562/mo rent that, after a $1,172/mo payment, leaves $1,983/mo cash flow. Total monthly income is $3,562/mo, and annual cash flow is $23,794/yr on $79,394 cash. Return on cash invested measures 49.88% in year one, and rental yield stands at 17.85% at a $239,500 entry. Equity gained on principal adds $1,545/yr while 5% annual appreciation compounds into $66,169 by year five. Five-year ROI records 264.08% and total cumulative return in cash reaches $209,665. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $3,562/mo property income versus a $1,172/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1900
9,147 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49120, Niles, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,517 (100%) |
| Owner Occupied HU | 11,816 (71.5%) |
| Renter Occupied HU | 3,504 (21.2%) |
| Vacant Housing Units | 1,197 ( 7.2%) |
| Median Home Value | $196,962 |
| Average Home Value | $257,729 |
Housing Distribution
Address Breakdown
Residential
15,849
Single Family
14,815
Multi-Family
1,034
Businesses
1,035
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
