6218 Cobblers DrEast 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 6218 Cobblers Dr, East Lansing, MI, 48823 generates $1,448/mo in rent, after a $929/mo payment. Total monthly income is $1,448/mo. Return on cash invested sits at 13.04% in year one, and rental yield is 9.15% on a $189,900 entry. Equity gained on principal adds $1,225/yr, while 5% annual appreciation builds toward $52,466 over five years. Five-year ROI reaches 70.4% and total cumulative return in cash sums $44,321. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,448/mo property income rather than buyer’s personal income.
Condo
Built in 1974
871.20 sqft 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: Cindy Beckwith • Five Star Real Estate - Lansing
Mls Name: Greater Lansing AOR
Mls Provider:
Mls ID: #286956
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 2025 Greater Lansing Association of REALTORS