121 N 2nd StManistiqueMI49854
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe 9.31% yield at 121 N 2nd St, Manistique, MI, 49854 in Manistique is solid, but the $603/mo payment compresses net cash flow to $156/mo at $134,000. 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 $37,022 by year five, and $1,234/yr in loan paydown builds equity. Ziffy Mortgage qualifies this via DSCR (1.72) without U.S. income documentation. Total projected return: $61,114.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.3% | 7.8% |
| Monthly Cash Flow | $156 | $450 |
City averages based on Manistique market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,040 |
| Total Monthly Debt Service | $830 |
| DSCR Ratio | 1.25x |
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 2006
0.30 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49854, Manistique, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,252 (100%) |
| Owner Occupied HU | 2,376 (55.9%) |
| Renter Occupied HU | 531 (12.5%) |
| Vacant Housing Units | 1,345 (31.6%) |
| Median Home Value | $169,543 |
| Average Home Value | $207,394 |
Housing Distribution
Address Breakdown
Residential
3,074
Single Family
2,895
Multi-Family
179
Businesses
278
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 2006
0.30 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49854, Manistique, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,252 (100%) |
| Owner Occupied HU | 2,376 (55.9%) |
| Renter Occupied HU | 531 (12.5%) |
| Vacant Housing Units | 1,345 (31.6%) |
| Median Home Value | $169,543 |
| Average Home Value | $207,394 |
Housing Distribution
Address Breakdown
Residential
3,074
Single Family
2,895
Multi-Family
179
Businesses
278
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: ABBEY WOOD • GROVER REAL ESTATE
Mls Name: Upper Peninsula AOR
Mls ID: #50197700