1017 Summit StHancockMI49930
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors targeting immediate dollar income will find 1017 Summit St, Hancock, MI, 49930 in Hancock hard to pass up. The 15% gross yield on a $279,000 purchase results in $3,487/mo in rent and $1,647/mo in net cash, well above the spread required for Ziffy Mortgage's DSCR qualification (2.78). Annual cash flow of $19,768, five-year appreciation of $77,083, and $2,570/yr in equity build-up combine for a projected total cumulative return of $212,252.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 15% | 7.0% |
| Monthly Cash Flow | $1,647 | $550 |
City averages based on Hancock market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,487 |
| Total Monthly Debt Service | $1,729 |
| DSCR Ratio | 2.02x |
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 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
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 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices