866 W Lake StSpruceMI48762
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 Spruce at 866 W Lake St, Spruce, MI, 48762 priced at $529,000 pairs $1,338/mo rent with after a $2,589/mo payment. Total monthly income equals $1,338/mo. Return on cash invested is 5.23% in year one, and rental yield stands at 3.04% on a $529,000 basis. Equity gained on principal adds $3,414/yr, and 5% annual appreciation accumulates to $146,153 by year five. Five-year ROI measures 24.65% and total cumulative return in cash reaches $42,893. For financing, Ziffy Mortgage’s DSCR program evaluates $1,338/mo property income against a $2,589/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1988
8,276 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48762, Spruce, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,212 (100%) |
| Owner Occupied HU | 454 (37.5%) |
| Renter Occupied HU | 33 ( 2.7%) |
| Vacant Housing Units | 725 (59.8%) |
| Median Home Value | $278,788 |
| Average Home Value | $307,070 |
Housing Distribution
Address Breakdown
Residential
549
Single Family
549
Multi-Family
0
Businesses
24
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Nearby investment properties with comparable prices
Listed by: John Anderson, Assoc Broker • Real Estate One Northern Properties
Mls Name: EUPBR
Mls Provider:
Mls ID: #25-153
Disclaimer: Copyright Eastern Upper Peninsula Board of Realtors. All rights reserved. Information is deemed reliable but not guaranteed. The listing brokers offer of compensation is made only to participants of the MLS where the listing is filed.