629 IslandGrass LakeMI49240
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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 Grass Lake at 629 Island, Grass Lake, MI, 49240 uses $66,267 cash to close to unlock $4,034/yr annual cash flow and $336/mo monthly cash flow. Total monthly income runs $1,654/mo, and a $978/mo payment keeps the spread at $336/mo. Purchase price stands at $199,900, and rental yield measures 9.93% with $1,654/mo rent. Return on cash invested shows 26% in year one, and 5% annual appreciation builds toward $55,229 over five years. Five-year ROI reaches 136.09% and total cumulative return in cash records $90,181. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,654/mo property income covering a $978/mo payment rather than investor’s personal income.
Single Family
Built in 1959
10,018 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49240, Grass Lake, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,858 (100%) |
| Owner Occupied HU | 3,252 (84.3%) |
| Renter Occupied HU | 289 ( 7.5%) |
| Vacant Housing Units | 317 ( 8.2%) |
| Median Home Value | $321,804 |
| Average Home Value | $356,895 |
Housing Distribution
Address Breakdown
Residential
3,700
Single Family
3,700
Multi-Family
0
Businesses
133
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Listed by: RHONDA K. MILES • C-21 Affiliated - Jackson
Mls Name: MichRIC
Mls Provider:
Mls ID: #24053759
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2024 MichRIC, LLC. All rights reserved.