938 6th AveLake OdessaMI48849
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors targeting immediate dollar income will find 938 6th Ave, Lake Odessa, MI, 48849 in Lake Odessa hard to pass up. The 12.09% gross yield on a $225,000 purchase results in $2,267/mo in rent and $753/mo in net cash, well above the spread required for Ziffy Mortgage's DSCR qualification (2.24). Annual cash flow of $9,037, five-year appreciation of $62,163, and $2,072/yr in equity build-up combine for a projected total cumulative return of $134,304.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 12.1% | 6.8% |
| Monthly Cash Flow | $753 | $500 |
City averages based on Lake Odessa market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,267 |
| Total Monthly Debt Service | $1,424 |
| DSCR Ratio | 1.59x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1950
9,147 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48849, Lake Odessa, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,598 (100%) |
| Owner Occupied HU | 2,010 (77.4%) |
| Renter Occupied HU | 347 (13.4%) |
| Vacant Housing Units | 241 ( 9.3%) |
| Median Home Value | $237,500 |
| Average Home Value | $271,979 |
Housing Distribution
Address Breakdown
Residential
2,340
Single Family
2,259
Multi-Family
81
Businesses
152
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
Single Family
Built in 1950
9,147 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48849, Lake Odessa, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,598 (100%) |
| Owner Occupied HU | 2,010 (77.4%) |
| Renter Occupied HU | 347 (13.4%) |
| Vacant Housing Units | 241 ( 9.3%) |
| Median Home Value | $237,500 |
| Average Home Value | $271,979 |
Housing Distribution
Address Breakdown
Residential
2,340
Single Family
2,259
Multi-Family
81
Businesses
152
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Tyler DuRussel • Modern Realty
Mls Name: MIDMLS
Mls Provider:
Mls ID: #50172418
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.