1005 & 1007 E Michigan StMount PleasantMI48858
INVESTMENT ANALYSIS
Investment Verdict
Income-ProducingReliable and efficiently structured, 1005 & 1007 E Michigan St, Mount Pleasant, MI, 48858 in Mount Pleasant is a conservative rental investment at $309,470. Rental yield 6.09%. A 1.13 coverage ratio meets Ziffy Mortgage's DSCR standard for foreign-national financing. Five-year equity: 5% appreciation adds $85,501; $2,850/yr in principal paydown supplements. Total projected return: $87,582.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 6.1% | 7.5% |
| Monthly Cash Flow | $(471) | $550 |
City averages based on Mount Pleasant market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,570 |
| Total Monthly Debt Service | $1,918 |
| DSCR Ratio | 0.82x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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.
Multi Family
Built in 2001
9,583 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48858, Mount Pleasant, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,876 (100%) |
| Owner Occupied HU | 9,481 (47.7%) |
| Renter Occupied HU | 8,386 (42.2%) |
| Vacant Housing Units | 2,009 (10.1%) |
| Median Home Value | $184,339 |
| Average Home Value | $222,061 |
Housing Distribution
Address Breakdown
Residential
18,999
Single Family
16,469
Multi-Family
2,530
Businesses
1,375
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
Multi Family
Built in 2001
9,583 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48858, Mount Pleasant, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,876 (100%) |
| Owner Occupied HU | 9,481 (47.7%) |
| Renter Occupied HU | 8,386 (42.2%) |
| Vacant Housing Units | 2,009 (10.1%) |
| Median Home Value | $184,339 |
| Average Home Value | $222,061 |
Housing Distribution
Address Breakdown
Residential
18,999
Single Family
16,469
Multi-Family
2,530
Businesses
1,375
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jeanette Corbin • Keller Williams of NM Signature Group
Mls Name: NGLRMLS
Mls ID: #1941728