92 E Philip StLake LeelanauMI49653
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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
Rental property for sale in Lake Leelanau at 92 E Philip St, Lake Leelanau, MI, 49653 priced at $1,225,000 pairs $2,878/mo rent with after a $5,996/mo payment. Total monthly income equals $2,878/mo. Return on cash invested is 4.65% in year one, and rental yield stands at 2.82% on a $1,225,000 basis. Equity gained on principal adds $7,905/yr, and 5% annual appreciation accumulates to $338,445 by year five. Five-year ROI measures 21.45% and total cumulative return in cash reaches $85,128. For financing, Ziffy Mortgage’s DSCR program evaluates $2,878/mo property income against a $5,996/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1966
0.84 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49653, Lake Leelanau, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,490 (100%) |
| Owner Occupied HU | 806 (54.1%) |
| Renter Occupied HU | 125 ( 8.4%) |
| Vacant Housing Units | 559 (37.5%) |
| Median Home Value | $485,246 |
| Average Home Value | $640,037 |
Housing Distribution
Address Breakdown
Residential
882
Single Family
882
Multi-Family
0
Businesses
79
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Listed by: Thomas Alflen • EXIT Northern Shores-TC
Mls Name: NGLRMLS
Mls ID: #1938821