8500 E Horn RdLake LeelanauMI49653
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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 Lake Leelanau at 8500 E Horn Rd, Lake Leelanau, MI, 49653 offers a 8.48% rental yield on a $379,900 purchase with $2,685/mo rent. Total monthly income registers $2,685/mo, and a $1,859/mo payment leaves $180/mo available for distribution. Annual cash flow reaches $2,162/yr on $125,937 to close, and return on cash invested stands at 21.63% in year one. Equity gained on principal adds $2,451/yr while 5% annual appreciation supports $104,959 over five years. Portfolio math shows five-year ROI at 112.6% and total cumulative return in cash at $141,809. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,685/mo property income against a $1,859/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Manufactured
Built in 1975
5.01 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49653, Lake Leelanau, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,490 (100%) |
| Owner Occupied HU | 806 (54.1%) |
| Renter Occupied HU | 125 ( 8.4%) |
| Vacant Housing Units | 559 (37.5%) |
| Median Home Value | $485,246 |
| Average Home Value | $640,037 |
Housing Distribution
Address Breakdown
Residential
882
Single Family
882
Multi-Family
0
Businesses
79
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Listed by: Alexys Apol • Nexes Realty Muskegon
Mls Name: MichRIC
Mls ID: #25038655