607 N Monroe StMonroeMI48162
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 Monroe at 607 N Monroe St, Monroe, MI, 48162 priced at $273,000 converts $2,048/mo rent into $248/mo cash flow after a $1,336/mo obligation. Total monthly income equals $2,048/mo, and annual cash flow totals $2,975/yr on $90,500 invested. Return on cash invested prints 23.2% in year one, and rental yield reads 9% against a $273,000 entry. Equity gained on principal adds $1,762/yr, while 5% annual appreciation compiles into $75,425 by year five. Five-year ROI reaches 121% and total cumulative return in cash sums $109,507. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,048/mo property income covering a $1,336/mo payment, not borrower’s personal income.
Single Family
Built in 1950
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48162, Monroe, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,229 (100%) |
| Owner Occupied HU | 8,910 (67.4%) |
| Renter Occupied HU | 3,509 (26.5%) |
| Vacant Housing Units | 810 ( 6.1%) |
| Median Home Value | $217,176 |
| Average Home Value | $263,697 |
Housing Distribution
Address Breakdown
Residential
12,536
Single Family
11,056
Multi-Family
1,480
Businesses
667
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Dione Oerther • Berkshire Hathaway Hudkins Realtors in Monroe
Mls Name: MiRealSource
Mls Provider:
Mls ID: #50153280
Disclaimer: Source MLS: MiRealSource Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource. The information published and disseminated by MiRealSource is communicated verbatim, without change by MiRealSource, as filed with MiRealSource by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Copyright 2024 MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc. [Click here for more information](/info/mls-disclaimers/#mls_261)