6208 Farrell RdCentral LakeMI49622
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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
Investment property for sale in Central Lake at 6208 Farrell Rd, Central Lake, MI, 49622 uses $65,604 cash to close to unlock $30,283/yr annual cash flow and $2,524/mo monthly cash flow. Total monthly income runs $3,829/mo, and a $969/mo payment keeps the spread at $2,524/mo. Purchase price stands at $197,900, and rental yield measures 23.22% with $3,829/mo rent. Return on cash invested shows 66.07% in year one, and 5% annual appreciation builds toward $54,676 over five years. Five-year ROI reaches 350.94% and total cumulative return in cash records $230,229. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,829/mo property income covering a $969/mo payment rather than investor’s personal income.
Lot
Built in N/A
2.49 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49622, Central Lake, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,880 (100%) |
| Owner Occupied HU | 1,007 (53.6%) |
| Renter Occupied HU | 187 ( 9.9%) |
| Vacant Housing Units | 686 (36.5%) |
| Median Home Value | $261,634 |
| Average Home Value | $390,742 |
Housing Distribution
Address Breakdown
Residential
1,117
Single Family
1,117
Multi-Family
0
Businesses
77
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Listed by: Sharon Reid-Brown • Bayside Real Estate
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1926931
Disclaimer: The information in this listing was gathered from third-party sources including the seller. Northern Great Lakes REALTORS MLS and its subscribers disclaim any and all representations or warranties as to the accuracy of this information. Copyright 2024 Northern Great Lakes REALTORS MLS. All Rights Reserved.