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$209,000

For Sale - Active
15765 Mason St, Union, MI 49130
3 Beds
2 Baths
1,144 Square Feet
0.35 Acres Lot
Built in 1950
For Sale - Active
Units n/a
Checked: 16 hours ago
Updated: Jul 28, 2025 at 03:23AM

Investment Summary


Monthly Cash Flow
-$78
Cap Rate
5.7%
Cash-on-Cash Return
-1.9%
Debt Coverage Ratio
0.93
Internal Rate of Return (5 years)
2.1%

Property Description


0.35 Acres Lot
Built in 1950
For Sale - Active
Units n/a

Location, Location, Location! This charming ranch-style home is ready for you to move in and make it your own! Featuring 3 spacious bedrooms, 2 full baths, and a generously sized Living Room and Dining Room, there's plenty of room to relax and entertain.Enjoy hardwood floors, an updated kitchen perfect for your culinary adventures. The large full basement includes built-in storage shelves and an additional bonus storage room—ideal for organization or hobbies.Step outside to a HUGE peaceful deck overlooking a fully fenced backyard—perfect for gatherings, pets, or simply enjoying the outdoors.Conveniently located with easy access to State Route 12, just 7 miles from the toll road and the Indiana state line, making commuting a breeze. Don't miss out!

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Location


Property Details


Parking

  • Details: Garage Faces Front, Attached, Concrete
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 6
  • Basement: Yes
  • Basement Description: Full, Sump Pump

Exterior Features

  • Roof Material: Metal

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 1412042501300
  • Lot Size: 15250 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Ranch
  • Year Built: 1950

Tax Information

  • Annual Tax: $2,164

Utilities

  • Water & Sewer: Private
  • Heating: Natural Gas, Forced Air
  • Cooling: Central Air

Location

  • County: Cass

Listing Details


Listed by:
Barketa Kerns
Century 21 Affiliated
(574) 370-8510

Source:
Southwestern Michigan Association of REALTORS
MLS#: 25026293
Southwestern Michigan Association of REALTORS

Investment Summary


Monthly Cash Flow
-$78
Cap Rate
5.7%
Cash-on-Cash Return
-1.9%
Debt Coverage Ratio
0.93
Internal Rate of Return (5 years)
2.1%

Purchase Details

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Purchase price:
$209,000
Amount financed:
-$167,200
Down payment:
$41,800
Closing costs:
$6,270
Rehab costs:
$0
Initial cash invested:
$48,070
Square feet:
1,144
Cost per square foot:
$183
Monthly rent per square foot:
$1.49

Financing Details

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Loan amount:
$167,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,071
Property tax:
$180
Insurance:
$119
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,370

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,700 $20,400
Vacancy loss: (6%)
6% -$102 -$1,224
Operating income:
$1,598 $19,176

Operating Expenses


% Rent Monthly Yearly
Property taxes: (11%)
11%-$180-$2,164
Insurance: (7%)
7%-$119-$1,428
Property management: (8%)
8%-$136-$1,632
Repairs & maintenance: (5%)
5%-$85-$1,020
Capital expenditures: (5%)
5%-$85-$1,020
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (36%)
36%-$605-$7,264

Cash Flow


Monthly Yearly
Net operating income:
$993 $11,916
Mortgage payments:
-$1,071 -$12,852
Cash flow:
$78 $936