813 E Fairplains StGreenvilleMI48838
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 813 E Fairplains St, Greenville, MI, 48838 in Greenville at $250,000 earns $1,829/mo in rent and nets $180/mo after the $1,124/mo payment, a 8.78% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $69,070 over five years. Ziffy Mortgage underwrites this on a 1.63 DSCR without U.S. credit history. With $2,303/yr in principal paydown, total projected return reaches $106,849.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.8% | 7.0% |
| Monthly Cash Flow | $180 | $350 |
City averages based on Greenville market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,829 |
| Total Monthly Debt Service | $1,549 |
| DSCR Ratio | 1.18x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Multi Family
Built in 1900
6,806 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48838, Greenville, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,395 (100%) |
| Owner Occupied HU | 6,106 (72.7%) |
| Renter Occupied HU | 1,708 (20.3%) |
| Vacant Housing Units | 581 ( 6.9%) |
| Median Home Value | $241,215 |
| Average Home Value | $271,533 |
Housing Distribution
Address Breakdown
Residential
8,154
Single Family
7,800
Multi-Family
354
Businesses
680
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
Multi Family
Built in 1900
6,806 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48838, Greenville, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,395 (100%) |
| Owner Occupied HU | 6,106 (72.7%) |
| Renter Occupied HU | 1,708 (20.3%) |
| Vacant Housing Units | 581 ( 6.9%) |
| Median Home Value | $241,215 |
| Average Home Value | $271,533 |
Housing Distribution
Address Breakdown
Residential
8,154
Single Family
7,800
Multi-Family
354
Businesses
680
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Linda S Lazarus • Michigan Top Producers
Mls Name: MichRIC
Mls Provider:
Mls ID: #25038815
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2025 MichRIC, LLC. All rights reserved.