1112 Howard StPetoskeyMI49770
INVESTMENT ANALYSIS
Investment Verdict
Solid Income1112 Howard St, Petoskey, MI, 49770 in Petoskey is a solid income-producing rental, 8.58% gross yield, $3,496/mo rent, $271/mo net cash flow on a $489,000 buy. DSCR 1.59 qualifies the property for Ziffy Mortgage's financing without personal income documentation. Five-year appreciation of $135,102 and $4,504/yr in principal reduction project a total cumulative return of $203,739.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.6% | 7.2% |
| Monthly Cash Flow | $271 | $350 |
City averages based on Petoskey market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,496 |
| Total Monthly Debt Service | $3,030 |
| DSCR Ratio | 1.15x |
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
0.43 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49770, Petoskey, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,448 (100%) |
| Owner Occupied HU | 5,615 (53.7%) |
| Renter Occupied HU | 2,324 (22.2%) |
| Vacant Housing Units | 2,509 (24.0%) |
| Median Home Value | $336,183 |
| Average Home Value | $446,093 |
Housing Distribution
Address Breakdown
Residential
9,179
Single Family
8,003
Multi-Family
1,176
Businesses
1,216
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
0.43 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49770, Petoskey, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,448 (100%) |
| Owner Occupied HU | 5,615 (53.7%) |
| Renter Occupied HU | 2,324 (22.2%) |
| Vacant Housing Units | 2,509 (24.0%) |
| Median Home Value | $336,183 |
| Average Home Value | $446,093 |
Housing Distribution
Address Breakdown
Residential
9,179
Single Family
8,003
Multi-Family
1,176
Businesses
1,216
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Beth Flynn • @properties Christie's International Real Estate - Petoskey
Mls Name: Northern Michigan MLS
Mls Provider:
Mls ID: #474911
Disclaimer: Copyright Northern Michigan MLS (NM-MLSX). All rights reserved. Information is deemed reliable but not guaranteed.