651 Connie DrLakeMI48632
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 Lake at 651 Connie Dr, Lake, MI, 48632 priced at $250,000 converts $1,853/mo rent into $204/mo cash flow after a $1,224/mo obligation. Total monthly income equals $1,853/mo, and annual cash flow totals $2,448/yr on $82,875 invested. Return on cash invested prints 22.86% in year one, and rental yield reads 8.89% against a $250,000 entry. Equity gained on principal adds $1,613/yr, while 5% annual appreciation compiles into $69,070 by year five. Five-year ROI reaches 119.19% and total cumulative return in cash sums $98,782. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,853/mo property income covering a $1,224/mo payment, not borrower’s personal income.
Single Family
Built in 1975
0.51 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48632, Lake, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,897 (100%) |
| Owner Occupied HU | 2,161 (44.1%) |
| Renter Occupied HU | 327 ( 6.7%) |
| Vacant Housing Units | 2,409 (49.2%) |
| Median Home Value | $154,104 |
| Average Home Value | $203,006 |
Housing Distribution
Address Breakdown
Residential
2,852
Single Family
2,852
Multi-Family
0
Businesses
42
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Nearby investment properties with comparable prices
Listed by: Nicole Charter • Keller Williams Northern Michigan
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1937264
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 2025 Northern Great Lakes REALTORS MLS. All Rights Reserved.