6632 Farrell RdCentral LakeMI49622
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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 Central Lake at 6632 Farrell Rd, Central Lake, MI, 49622 priced at $489,000 converts $2,402/mo rent into after a $2,393/mo obligation. Total monthly income equals $2,402/mo. Return on cash invested prints 13.82% in year one, and rental yield reads 5.89% against a $489,000 entry. Equity gained on principal adds $3,155/yr, while 5% annual appreciation compiles into $135,102 by year five. Five-year ROI reaches 70.72% and total cumulative return in cash sums $114,646. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,402/mo property income covering a $2,393/mo payment, not borrower’s personal income.
Single Family
Built in 1975
20 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49622, Central Lake, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,880 (100%) |
| Owner Occupied HU | 1,007 (53.6%) |
| Renter Occupied HU | 187 ( 9.9%) |
| Vacant Housing Units | 686 (36.5%) |
| Median Home Value | $261,634 |
| Average Home Value | $390,742 |
Housing Distribution
Address Breakdown
Residential
1,117
Single Family
1,117
Multi-Family
0
Businesses
77
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Nearby investment properties with comparable prices
Listed by: Steve Parafin • Real Estate One - Charlevoix
Mls Name: Northern Michigan MLS
Mls Provider:
Mls ID: #475363
Disclaimer: Copyright Northern Michigan MLS (NM-MLSX). All rights reserved. Information is deemed reliable but not guaranteed.