1017 Summit StHancockMI49930
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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 Hancock at 1017 Summit St, Hancock, MI, 49930 uses $92,489 cash to close to unlock $19,760/yr annual cash flow and $1,647/mo monthly cash flow. Total monthly income runs $3,487/mo, and a $1,366/mo payment keeps the spread at $1,647/mo. Purchase price stands at $279,000, and rental yield measures 15% with $3,487/mo rent. Return on cash invested shows 41.27% in year one, and 5% annual appreciation builds toward $77,083 over five years. Five-year ROI reaches 217.94% and total cumulative return in cash records $201,571. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,487/mo property income covering a $1,366/mo payment rather than investor’s personal income.
Single Family
Built in 1900
7,840 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49930, Hancock, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,544 (100%) |
| Owner Occupied HU | 1,906 (53.8%) |
| Renter Occupied HU | 1,046 (29.5%) |
| Vacant Housing Units | 592 (16.7%) |
| Median Home Value | $200,778 |
| Average Home Value | $227,817 |
Housing Distribution
Address Breakdown
Residential
3,153
Single Family
2,834
Multi-Family
319
Businesses
353
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Listed by: ROB SULLIVAN • NORTHERN MICHIGAN LAND BROKERS
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50155242
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.