623 E 56th StNewaygoMI49337
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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 Newaygo at 623 E 56th St, Newaygo, MI, 49337 offers a 8.68% rental yield on a $330,000 purchase with $2,386/mo rent. Total monthly income registers $2,386/mo, and a $1,615/mo payment leaves $210/mo available for distribution. Annual cash flow reaches $2,520/yr on $109,395 to close, and return on cash invested stands at 22.21% in year one. Equity gained on principal adds $2,129/yr while 5% annual appreciation supports $91,173 over five years. Portfolio math shows five-year ROI at 115.72% and total cumulative return in cash at $126,587. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,386/mo property income against a $1,615/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Manufactured
Built in 1993
3.61 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49337, Newaygo, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,955 (100%) |
| Owner Occupied HU | 4,674 (67.2%) |
| Renter Occupied HU | 753 (10.8%) |
| Vacant Housing Units | 1,528 (22.0%) |
| Median Home Value | $229,345 |
| Average Home Value | $259,481 |
Housing Distribution
Address Breakdown
Residential
5,800
Single Family
5,604
Multi-Family
196
Businesses
310
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