103 N Bailey StCheboyganMI49721
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowDay-one income is the story at 103 N Bailey St, Cheboygan, MI, 49721 in Cheboygan. Priced at $254,500, it generates $3,976/mo in gross rent and $2,297/mo in net monthly cash flow, a 18.75% yield that comfortably supports the 3.48 DSCR needed for Ziffy Mortgage's no-W2 DSCR mortgage. Projected annual cash flow: $27,568. Five-year appreciation: $70,314. Equity from principal paydown: $2,344/yr. Total projected cumulative return: $244,863.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 18.8% | 6.5% |
| Monthly Cash Flow | $2,297 | $250 |
City averages based on Cheboygan market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,976 |
| Total Monthly Debt Service | $1,577 |
| DSCR Ratio | 2.52x |
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
4,791 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49721, Cheboygan, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,028 (100%) |
| Owner Occupied HU | 5,139 (56.9%) |
| Renter Occupied HU | 1,234 (13.7%) |
| Vacant Housing Units | 2,655 (29.4%) |
| Median Home Value | $222,067 |
| Average Home Value | $297,208 |
Housing Distribution
Address Breakdown
Residential
7,068
Single Family
6,759
Multi-Family
309
Businesses
534
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
4,791 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49721, Cheboygan, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,028 (100%) |
| Owner Occupied HU | 5,139 (56.9%) |
| Renter Occupied HU | 1,234 (13.7%) |
| Vacant Housing Units | 2,655 (29.4%) |
| Median Home Value | $222,067 |
| Average Home Value | $297,208 |
Housing Distribution
Address Breakdown
Residential
7,068
Single Family
6,759
Multi-Family
309
Businesses
534
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices