863 Colfax AveBenton HarborMI49022
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
Investment property for sale in Benton Harbor at 863 Colfax Ave, Benton Harbor, MI, 49022 uses $41,438 cash to close to unlock $7,650/yr annual cash flow and $638/mo monthly cash flow. Total monthly income runs $1,462/mo, and a $612/mo payment keeps the spread at $638/mo. Purchase price stands at $125,000, and rental yield measures 14.04% with $1,462/mo rent. Return on cash invested shows 38.37% in year one, and 5% annual appreciation builds toward $34,535 over five years. Five-year ROI reaches 202.44% and total cumulative return in cash records $83,885. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,462/mo property income covering a $612/mo payment rather than investor’s personal income.
Single Family
Built in 1940
0.28 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49022, Benton Harbor, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,018 (100%) |
| Owner Occupied HU | 7,228 (51.6%) |
| Renter Occupied HU | 5,089 (36.3%) |
| Vacant Housing Units | 1,701 (12.1%) |
| Median Home Value | $200,743 |
| Average Home Value | $271,485 |
Housing Distribution
Address Breakdown
Residential
13,082
Single Family
11,575
Multi-Family
1,507
Businesses
1,037
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Arika Chandler • Epic Realty
Mls Name: MichRIC
Mls Provider:
Mls ID: #25037079
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2025 MichRIC, LLC. All rights reserved.