615 E Mill StHastingsMI49058
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 Hastings at 615 E Mill St, Hastings, MI, 49058 priced at $192,500 converts $2,036/mo rent into $767/mo cash flow after a $942/mo obligation. Total monthly income equals $2,036/mo, and annual cash flow totals $9,201/yr on $63,814 invested. Return on cash invested prints 34.33% in year one, and rental yield reads 12.69% against a $192,500 entry. Equity gained on principal adds $1,242/yr, while 5% annual appreciation compiles into $53,184 by year five. Five-year ROI reaches 180.68% and total cumulative return in cash sums $115,301. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,036/mo property income covering a $942/mo payment, not borrower’s personal income.
Single Family
Built in 1940
8,712 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49058, Hastings, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,678 (100%) |
| Owner Occupied HU | 6,576 (75.8%) |
| Renter Occupied HU | 1,533 (17.7%) |
| Vacant Housing Units | 569 ( 6.6%) |
| Median Home Value | $241,902 |
| Average Home Value | $285,255 |
Housing Distribution
Address Breakdown
Residential
8,048
Single Family
7,837
Multi-Family
211
Businesses
564
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