5940-W5940 Springview DrNorwayMI49870
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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 Norway at 5940-W5940 Springview Dr, Norway, MI, 49870 offers a 4.07% rental yield on a $424,900 purchase with $1,440/mo rent. 3% in year one. Equity gained on principal adds $2,742/yr while 5% annual appreciation supports $117,392 over five years. Portfolio math shows five-year ROI at 41.14% and total cumulative return in cash at $57,945. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,440/mo property income against a $2,080/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
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: #50163560
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.