6963 Myers Lake Ave NE #23RockfordMI49341
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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 Rockford at 6963 Myers Lake Ave NE #23, Rockford, MI, 49341 offers a 12.39% rental yield on a $319,900 purchase with $3,304/mo rent. Total monthly income registers $3,304/mo, and a $1,566/mo payment leaves $1,194/mo available for distribution. Annual cash flow reaches $14,330/yr on $106,047 to close, and return on cash invested stands at 33.42% in year one. Equity gained on principal adds $2,064/yr while 5% annual appreciation supports $88,382 over five years. Portfolio math shows five-year ROI at 175.87% and total cumulative return in cash at $186,500. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,304/mo property income against a $1,566/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 2019
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49341, Rockford, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,703 (100%) |
| Owner Occupied HU | 12,739 (86.6%) |
| Renter Occupied HU | 1,463 ( 10.0%) |
| Vacant Housing Units | 501 ( 3.4%) |
| Median Home Value | $404,412 |
| Average Home Value | $443,576 |
Housing Distribution
Address Breakdown
Residential
15,042
Single Family
14,501
Multi-Family
541
Businesses
771
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