603 Worthington DrLansingMI48906
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 Lansing at 603 Worthington Dr, Lansing, MI, 48906 generates $1,428/mo in rent and, after a $929/mo payment, leaves $176/mo in cash flow. Total monthly income is $1,428/mo, and annual cash flow is $2,114/yr on $62,952 invested. Return on cash invested sits at 23.27% in year one, and rental yield is 9.02% on a $189,900 entry. Equity gained on principal adds $1,225/yr, while 5% annual appreciation builds toward $52,466 over five years. Five-year ROI reaches 121.45% and total cumulative return in cash sums $76,457. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,428/mo property income rather than buyer’s personal income.
Condo
Built in 2006
871.20 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48906, Lansing, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,957 (100%) |
| Owner Occupied HU | 7,359 (61.5%) |
| Renter Occupied HU | 3,770 (31.5%) |
| Vacant Housing Units | 828 ( 6.9%) |
| Median Home Value | $161,192 |
| Average Home Value | $200,403 |
Housing Distribution
Address Breakdown
Residential
10,924
Single Family
9,787
Multi-Family
1,137
Businesses
869
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices