515 Springfield CirNilesMI49120
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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 Niles at 515 Springfield Cir, Niles, MI, 49120 uses $78,566 cash to close to unlock $2,389/yr annual cash flow and $199/mo monthly cash flow. Total monthly income runs $1,762/mo, and a $1,160/mo payment keeps the spread at $199/mo. Purchase price stands at $237,000, and rental yield measures 8.92% with $1,762/mo rent. Return on cash invested shows 22.95% in year one, and 5% annual appreciation builds toward $65,479 over five years. Five-year ROI reaches 119.74% and total cumulative return in cash records $94,076. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,762/mo property income covering a $1,160/mo payment rather than investor’s personal income.
Single Family
Built in 1963
9,583 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
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