8529 Elkwood Dr SWByron CenterMI49315
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 Byron Center at 8529 Elkwood Dr SW, Byron Center, MI, 49315 generates $1,674/mo in rent, after a $1,076/mo payment. Total monthly income is $1,674/mo. Return on cash invested sits at 19.32% in year one, and rental yield is 9.14% on a $219,900 entry. Equity gained on principal adds $1,419/yr, while 5% annual appreciation builds toward $60,754 over five years. Five-year ROI reaches 101.82% and total cumulative return in cash sums $74,224. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,674/mo property income rather than buyer’s personal income.
Condo
Built in 1984
1 sqft lot
$N/A/sqft
$260 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49315, Byron Center, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,640 (100%) |
| Owner Occupied HU | 9,012 (84.7%) |
| Renter Occupied HU | 1,223 (11.5%) |
| Vacant Housing Units | 405 ( 3.8%) |
| Median Home Value | $391,039 |
| Average Home Value | $441,361 |
Housing Distribution
Address Breakdown
Residential
10,119
Single Family
9,510
Multi-Family
609
Businesses
824
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Eric W Knoll • Five Star Real Estate (Grandv)
Mls Name: MichRIC
Mls Provider:
Mls ID: #24050154
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2024 MichRIC, LLC. All rights reserved.