8228 23rd LnRapid 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 8228 23rd Ln, Rapid River, MI, 49878 uses $142,512 cash to close to unlock $2,174/yr annual cash flow and $181/mo monthly cash flow. Total monthly income runs $3,016/mo, and a $2,104/mo payment keeps the spread at $181/mo. Purchase price stands at $429,900, and rental yield measures 8.42% with $3,016/mo rent. Return on cash invested shows 21.43% in year one, and 5% annual appreciation builds toward $118,773 over five years. Five-year ROI reaches 111.58% and total cumulative return in cash records $159,019. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,016/mo property income covering a $2,104/mo payment rather than investor’s personal income.
Single Family
Built in 2002
0.69 Acres 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: TAMMY GARLING • KEY REALTY DELTA COUNTY LLC
Mls Name: Upper Peninsula AOR
Mls ID: #50195007