7881 Cole StRapid RiverMI49878
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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 Rapid River at 7881 Cole St, Rapid River, MI, 49878 uses $54,035 cash to close to unlock $8,507/yr annual cash flow and $709/mo monthly cash flow. Total monthly income runs $1,784/mo, and a $798/mo payment keeps the spread at $709/mo. Purchase price stands at $163,000, and rental yield measures 13.13% with $1,784/mo rent. Return on cash invested shows 35.65% in year one, and 5% annual appreciation builds toward $45,034 over five years. Five-year ROI reaches 187.78% and total cumulative return in cash records $101,467. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,784/mo property income covering a $798/mo payment rather than investor’s personal income.
Single Family
Built in 1910
4,791 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49878, Rapid River, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,790 (100%) |
| Owner Occupied HU | 1,533 (54.9%) |
| Renter Occupied HU | 131 ( 4.7%) |
| Vacant Housing Units | 1,126 (40.4%) |
| Median Home Value | $182,019 |
| Average Home Value | $216,009 |
Housing Distribution
Address Breakdown
Residential
1,731
Single Family
1,708
Multi-Family
23
Businesses
76
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Listed by: JUDITH OWENS • STATE WIDE REAL ESTATE OF ESCANABA
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50176968
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.