6189 Captains WayEast LansingMI48823
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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 East Lansing at 6189 Captains Way, East Lansing, MI, 48823 priced at $189,900 converts $2,426/mo rent into $579/mo cash flow after a $929/mo obligation. Total monthly income equals $2,426/mo, and annual cash flow totals $6,952/yr on $62,952 invested. Return on cash invested prints 30.95% in year one, and rental yield reads 15.33% against a $189,900 entry. Equity gained on principal adds $1,225/yr, while 5% annual appreciation compiles into $52,466 by year five. Five-year ROI reaches 166.76% and total cumulative return in cash sums $104,981. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,426/mo property income covering a $929/mo payment, not borrower’s personal income.
Condo
Built in 1974
N/A lot
$N/A/sqft
$548 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48823, East Lansing, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,865 (100%) |
| Owner Occupied HU | 10,317 (39.9%) |
| Renter Occupied HU | 13,227 (51.1%) |
| Vacant Housing Units | 2,321 ( 9.0%) |
| Median Home Value | $296,966 |
| Average Home Value | $329,463 |
Housing Distribution
Address Breakdown
Residential
23,522
Single Family
14,377
Multi-Family
9,145
Businesses
1,219
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Listed by: Lynne VanDeventer • Coldwell Banker Professionals-Okemos
Mls Name: Greater Lansing AOR
Mls Provider:
Mls ID: #283513
Disclaimer: IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS. Copyright 2023 Greater Lansing Association of REALTORS