5622 Morrison Lake RdSaranacMI48881
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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 Saranac at 5622 Morrison Lake Rd, Saranac, MI, 48881 generates $1,500/mo in rent, after a $1,591/mo payment. Total monthly income is $1,500/mo. Return on cash invested sits at 12.74% in year one, and rental yield is 5.54% on a $325,000 entry. Equity gained on principal adds $2,097/yr, while 5% annual appreciation builds toward $89,792 over five years. Five-year ROI reaches 64.95% and total cumulative return in cash sums $69,973. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,500/mo property income rather than buyer’s personal income.
Single Family
Built in 1976
3.50 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48881, Saranac, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,270 (100%) |
| Owner Occupied HU | 1,863 (82.1%) |
| Renter Occupied HU | 300 (13.2%) |
| Vacant Housing Units | 107 ( 4.7%) |
| Median Home Value | $256,804 |
| Average Home Value | $278,180 |
Housing Distribution
Address Breakdown
Residential
2,140
Single Family
1,993
Multi-Family
147
Businesses
101
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