583 Lake Rd, Chippewa Lake, OH, 44215 | $235/mo Cash Flow

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Investment property for sale in Chippewa Lake at 583 Lake Rd, Chippewa Lake, OH, 44215 uses $58,013 cash to close to unlock $2,825/yr annual cash flow and $235/mo monthly cash flow. Total monthly income runs $1,387/mo, and a $857/mo payment keeps the spread at $235/mo. Purchase price stands at $175,000, and rental yield measures 9.51% with $1,387/mo rent. Return on cash invested shows 24.78% in year one, and 5% annual appreciation builds toward $48,349 over five years. Five-year ROI reaches 129.54% and total cumulative return in cash records $75,151. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,387/mo property income covering a $857/mo payment rather than investor’s personal income.

Single Family

Built in 1920

0.50 Acres lot

$N/A/sqft

No HOA

More details about the property

Bring your vision to this spacious century home! Step back in time with this charming 4-bedroom, 2-bath century home, nestled on a generous half-acre lot in the Village of Chippewa Lake. Bursting with character and potential, this home offers a rare opportunity to restore and customize to your taste. Inside, youll find large rooms, original details, and endless possibilities for modern updates. Enjoy a private backyard perfect for gardening, entertaining, or simply relaxing in your own peaceful retreat. With its prime location near beautiful Chippewa Lake, this property is ready for someone to make it shine again.

Neighborhood Data

Neighborhood data shown for ZIP Code: 44215, Chippewa Lake, OH area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	1,131 (100%)
Owner Occupied HU	807 (71.4%)
Renter Occupied HU	155 (13.7%)
Vacant Housing Units	169 (14.9%)
Median Home Value	$274,593
Average Home Value	$323,779