Off Pit Rd #3CovingtonMI49919
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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 Covington at Off Pit Rd #3, Covington, MI, 49919 earns $168/mo cash flow from $1,012/mo rent with a $627/mo payment. Total monthly income totals $1,012/mo, and annual cash flow totals $2,021/yr on $42,432 capital. ROI tracks 24.67% on current figures, and rental yield reads 9.49% at a $128,000 purchase. Equity gained on principal adds $826/yr, and 5% annual appreciation supports $35,364 over five years. Five-year ROI reaches 128.96% and total cumulative return in cash sums $54,719. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,012/mo property income instead of your personal income.
Single Family
Built in 1980
40 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49919, Covington, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 166 (100%) |
| Owner Occupied HU | 80 (48.2%) |
| Renter Occupied HU | 9 ( 5.4%) |
| Vacant Housing Units | 77 (46.4%) |
| Median Home Value | $221,429 |
| Average Home Value | $214,375 |
Housing Distribution
Address Breakdown
Residential
68
Single Family
68
Multi-Family
0
Businesses
7
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Listed by: TIM KEOHANE • GREAT LAKES & LAND OF MARQUETTE, INC.
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50152867
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.