987 Touraine AveEast LansingMI48823
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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 East Lansing at 987 Touraine Ave, East Lansing, MI, 48823 generates $2,699/mo in rent and, after a $1,517/mo payment, leaves $655/mo in cash flow. Total monthly income is $2,699/mo, and annual cash flow is $7,860/yr on $102,765 invested. Return on cash invested sits at 27.56% in year one, and rental yield is 10.45% on a $310,000 entry. Equity gained on principal adds $2,000/yr, while 5% annual appreciation builds toward $85,647 over five years. Five-year ROI reaches 144.36% and total cumulative return in cash sums $148,351. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,699/mo property income rather than buyer’s personal income.
Single Family
Built in 1988
4,791 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48823, East Lansing, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,865 (100%) |
| Owner Occupied HU | 10,317 (39.9%) |
| Renter Occupied HU | 13,227 (51.1%) |
| Vacant Housing Units | 2,321 ( 9.0%) |
| Median Home Value | $296,966 |
| Average Home Value | $329,463 |
Housing Distribution
Address Breakdown
Residential
23,522
Single Family
14,377
Multi-Family
9,145
Businesses
1,219
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Listed by: Carey Ann McLamara • Five Star Real Estate - Lansing
Mls Name: Greater Lansing AOR
Mls ID: #292244