1009 Water StEast JordanMI49727
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe 8.19% yield at 1009 Water St, East Jordan, MI, 49727 in East Jordan is solid, but the $1,529/mo payment compresses net cash flow to $79/mo at $340,000. This is a tight-spread property, income covers debt, with little cushion. For investors who can optimise occupancy, the upside is real: 5% annual appreciation adds $93,936 by year five, and $3,131/yr in loan paydown builds equity. Ziffy Mortgage qualifies this via DSCR (1.52) without U.S. income documentation. Total projected return: $134,567.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.2% | 9.2% |
| Monthly Cash Flow | $79 | $850 |
City averages based on East Jordan market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,321 |
| Total Monthly Debt Service | $2,107 |
| DSCR Ratio | 1.10x |
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 N/A
0.80 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49727, East Jordan, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,429 (100%) |
| Owner Occupied HU | 2,638 (59.6%) |
| Renter Occupied HU | 449 (10.1%) |
| Vacant Housing Units | 1,342 (30.3%) |
| Median Home Value | $244,164 |
| Average Home Value | $346,946 |
Housing Distribution
Address Breakdown
Residential
2,745
Single Family
2,607
Multi-Family
138
Businesses
177
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 N/A
0.80 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49727, East Jordan, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,429 (100%) |
| Owner Occupied HU | 2,638 (59.6%) |
| Renter Occupied HU | 449 (10.1%) |
| Vacant Housing Units | 1,342 (30.3%) |
| Median Home Value | $244,164 |
| Average Home Value | $346,946 |
Housing Distribution
Address Breakdown
Residential
2,745
Single Family
2,607
Multi-Family
138
Businesses
177
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: Northern Michigan MLS
Mls ID: #478117