8840 W Old State RdCentral LakeMI49622
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 Central Lake at 8840 W Old State Rd, Central Lake, MI, 49622 offers a 10.61% rental yield on a $187,500 purchase with $1,658/mo rent. Total monthly income registers $1,658/mo, and a $918/mo payment leaves $421/mo available for distribution. Annual cash flow reaches $5,055/yr on $62,156 to close, and return on cash invested stands at 28.04% in year one. Equity gained on principal adds $1,210/yr while 5% annual appreciation supports $51,803 over five years. Portfolio math shows five-year ROI at 147.05% and total cumulative return in cash at $91,399. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,658/mo property income against a $918/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in N/A
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49622, Central Lake, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,880 (100%) |
| Owner Occupied HU | 1,007 (53.6%) |
| Renter Occupied HU | 187 ( 9.9%) |
| Vacant Housing Units | 686 (36.5%) |
| Median Home Value | $261,634 |
| Average Home Value | $390,742 |
Housing Distribution
Address Breakdown
Residential
1,117
Single Family
1,117
Multi-Family
0
Businesses
77
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Listed by: Mandi Maghakian • @properties Christie's International Real Estate - Petoskey
Mls Name: Northern Michigan MLS
Mls ID: #478320