6053 Meldrum RdIraMI48023
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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 Ira at 6053 Meldrum Rd, Ira, MI, 48023 uses $85,859 cash to close to unlock $2,456/yr annual cash flow and $205/mo monthly cash flow. Total monthly income runs $1,913/mo, and a $1,268/mo payment keeps the spread at $205/mo. Purchase price stands at $259,000, and rental yield measures 8.86% with $1,913/mo rent. Return on cash invested shows 22.77% in year one, and 5% annual appreciation builds toward $71,557 over five years. Five-year ROI reaches 118.72% and total cumulative return in cash records $101,932. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,913/mo property income covering a $1,268/mo payment rather than investor’s personal income.
Single Family
Built in 1950
0.66 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48023, Fair Haven, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,368 (100%) |
| Owner Occupied HU | 1,730 (73.1%) |
| Renter Occupied HU | 417 (17.6%) |
| Vacant Housing Units | 221 ( 9.3%) |
| Median Home Value | $326,971 |
| Average Home Value | $367,487 |
Housing Distribution
Address Breakdown
Residential
2,203
Single Family
2,203
Multi-Family
0
Businesses
160
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