523 Bainbridge Dr APT 38East 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 523 Bainbridge Dr APT 38, East Lansing, MI, 48823 uses $35,636 cash to close to unlock $8,325/yr annual cash flow and $694/mo monthly cash flow. Total monthly income runs $1,776/mo, and a $526/mo payment keeps the spread at $694/mo. Purchase price stands at $107,500, and rental yield measures 19.83% with $1,776/mo rent. Return on cash invested shows 43.27% in year one, and 5% annual appreciation builds toward $29,700 over five years. Five-year ROI reaches 233.21% and total cumulative return in cash records $83,107. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,776/mo property income covering a $526/mo payment rather than investor’s personal income.
Condo
Built in 1972
N/A lot
$N/A/sqft
$346 monthly 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: HBB Realtors • RE/MAX Real Estate Professionals
Mls Name: Greater Lansing AOR
Mls Provider:
Mls ID: #285451
Disclaimer: IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS. Copyright 2023 Greater Lansing Association of REALTORS