6243 W Golfridge Dr #40East 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 6243 W Golfridge Dr #40, East Lansing, MI, 48823 generates $2,280/mo in rent, after a $2,847/mo payment. Total monthly income is $2,280/mo. Return on cash invested sits at 10.3% in year one, and rental yield is 4.7% on a $581,680 entry. Equity gained on principal adds $3,753/yr, while 5% annual appreciation builds toward $160,707 over five years. Five-year ROI reaches 51.85% and total cumulative return in cash sums $99,236. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,280/mo property income rather than buyer’s personal income.
Single Family
Built in 2024
4,356 sqft lot
$N/A/sqft
No 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: Shannon Woolever • Coldwell Banker Professionals-Okemos
Mls Name: Greater Lansing AOR
Mls Provider:
Mls ID: #282341
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