880 Lakeland CtGrosse PointeMI48230
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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 Grosse Pointe at 880 Lakeland Ct, Grosse Pointe, MI, 48230 offers a 14.87% rental yield on a $420,000 purchase with $5,204/mo rent. Total monthly income registers $5,204/mo, and a $2,056/mo payment leaves $2,434/mo available for distribution. Annual cash flow reaches $29,208/yr on $139,230 to close, and return on cash invested stands at 40.89% in year one. Equity gained on principal adds $2,710/yr while 5% annual appreciation supports $116,038 over five years. Portfolio math shows five-year ROI at 215.86% and total cumulative return in cash at $300,547. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $5,204/mo property income against a $2,056/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1958
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48230, Grosse Pointe, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,278 (100%) |
| Owner Occupied HU | 5,393 (74.1%) |
| Renter Occupied HU | 1,458 (20.0%) |
| Vacant Housing Units | 427 ( 5.9%) |
| Median Home Value | $465,224 |
| Average Home Value | $515,405 |
Housing Distribution
Address Breakdown
Residential
7,260
Single Family
7,029
Multi-Family
231
Businesses
377
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Listed by: Catherine Molloy • Sine & Monaghan LLC
Mls Name: MiRealSource
Mls Provider:
Mls ID: #50155262
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