5940 W Springview DrNorwayMI49870
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 Norway at 5940 W Springview Dr, Norway, MI, 49870 priced at $399,900 converts $4,519/mo rent into $1,882/mo cash flow after a $1,957/mo obligation. Total monthly income equals $4,519/mo, and annual cash flow totals $22,586/yr on $132,567 invested. Return on cash invested prints 36.95% in year one, and rental yield reads 13.56% against a $399,900 entry. Equity gained on principal adds $2,580/yr, while 5% annual appreciation compiles into $110,485 by year five. Five-year ROI reaches 194.76% and total cumulative return in cash sums $258,188. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $4,519/mo property income covering a $1,957/mo payment, not borrower’s personal income.
Single Family
Built in 1995
3.31 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49870, Norway, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,591 (100%) |
| Owner Occupied HU | 1,119 (70.3%) |
| Renter Occupied HU | 315 (19.8%) |
| Vacant Housing Units | 157 ( 9.9%) |
| Median Home Value | $161,773 |
| Average Home Value | $196,988 |
Housing Distribution
Address Breakdown
Residential
1,481
Single Family
1,397
Multi-Family
84
Businesses
136
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Listed by: CARRIE TORETTA-PARTELLO • COLDWELL BANKER REAL ESTATE GROUP
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50144596
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