615 River StLutherMI49656
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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
Rental property for sale in Luther at 615 River St, Luther, MI, 49656 generates $1,234/mo in rent and, after a $758/mo payment, leaves $213/mo in cash flow. Total monthly income is $1,234/mo, and annual cash flow is $2,552/yr on $51,349 invested. Return on cash invested sits at 24.88% in year one, and rental yield is 9.56% on a $154,900 entry. Equity gained on principal adds $1,000/yr, while 5% annual appreciation builds toward $42,796 over five years. Five-year ROI reaches 130.04% and total cumulative return in cash sums $66,776. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,234/mo property income rather than buyer’s personal income.
Single Family
Built in 1880
0.43 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49656, Luther, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,603 (100%) |
| Owner Occupied HU | 666 (41.5%) |
| Renter Occupied HU | 96 ( 6.0%) |
| Vacant Housing Units | 841 (52.5%) |
| Median Home Value | $149,306 |
| Average Home Value | $214,223 |
Housing Distribution
Address Breakdown
Residential
728
Single Family
728
Multi-Family
0
Businesses
19
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