614 E Spruce StSault Sainte MarieMI49783
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 Sault Sainte Marie at 614 E Spruce St, Sault Sainte Marie, MI, 49783 offers $1,153/mo rent that, after a $734/mo payment, leaves $164/mo cash flow. Total monthly income is $1,153/mo, and annual cash flow is $1,968/yr on $49,725 cash. Return on cash invested measures 23.87% in year one, and rental yield stands at 9.22% at a $150,000 entry. Equity gained on principal adds $968/yr while 5% annual appreciation compounds into $41,442 by year five. Five-year ROI records 124.56% and total cumulative return in cash reaches $61,938. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,153/mo property income versus a $734/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1940
4,356 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49783, Sault Sainte Marie, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,064 (100%) |
| Owner Occupied HU | 5,407 (59.7%) |
| Renter Occupied HU | 2,442 (26.9%) |
| Vacant Housing Units | 1,215 (13.4%) |
| Median Home Value | $160,218 |
| Average Home Value | $183,626 |
Housing Distribution
Address Breakdown
Residential
8,365
Single Family
7,421
Multi-Family
944
Businesses
807
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Sarabeth Stankevich • NextHome One
Mls Name: MichRIC
Mls Provider:
Mls ID: #25006787
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2025 MichRIC, LLC. All rights reserved.