8118 W State StCentral LakeMI49622
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 Central Lake at 8118 W State St, Central Lake, MI, 49622 priced at $359,900 pairs $2,666/mo rent with $292/mo cash flow after a $1,762/mo payment. Total monthly income equals $2,666/mo, and annual cash flow comes to $3,506/yr on $119,307 invested. Return on cash invested is 22.85% in year one, and rental yield stands at 8.89% on a $359,900 basis. Equity gained on principal adds $2,322/yr, and 5% annual appreciation accumulates to $99,434 by year five. Five-year ROI measures 119.16% and total cumulative return in cash reaches $142,166. For financing, Ziffy Mortgage’s DSCR program evaluates $2,666/mo property income against a $1,762/mo payment instead of your W2s, 1099s, or Tax returns.
Multi Family
Built in 1910
4,791 sqft 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: Lawrence Eckhardt • REO-TCBellaire-233025
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1922177
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 2024 Northern Great Lakes REALTORS MLS. All Rights Reserved.