128 E Water StSault Sainte MarieMI49783
INVESTMENT ANALYSIS
Investment Verdict
Solid Income128 E Water St, Sault Sainte Marie, MI, 49783 in Sault Sainte Marie is a solid income-producing rental, 9.19% gross yield, $3,515/mo rent, $488/mo net cash flow on a $459,000 buy. DSCR 1.70 qualifies the property for Ziffy Mortgage's financing without personal income documentation. Five-year appreciation of $126,813 and $4,227/yr in principal reduction project a total cumulative return of $206,272.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.2% | 8.1% |
| Monthly Cash Flow | $488 | $600 |
City averages based on Sault Sainte Marie market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,515 |
| Total Monthly Debt Service | $2,844 |
| DSCR Ratio | 1.24x |
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 1885
8,234 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49783, Sault Sainte Marie, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,064 (100%) |
| Owner Occupied HU | 5,407 (59.7%) |
| Renter Occupied HU | 2,442 (26.9%) |
| Vacant Housing Units | 1,215 (13.4%) |
| Median Home Value | $160,218 |
| Average Home Value | $183,626 |
Housing Distribution
Address Breakdown
Residential
8,365
Single Family
7,421
Multi-Family
944
Businesses
807
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 1885
8,234 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49783, Sault Sainte Marie, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,064 (100%) |
| Owner Occupied HU | 5,407 (59.7%) |
| Renter Occupied HU | 2,442 (26.9%) |
| Vacant Housing Units | 1,215 (13.4%) |
| Median Home Value | $160,218 |
| Average Home Value | $183,626 |
Housing Distribution
Address Breakdown
Residential
8,365
Single Family
7,421
Multi-Family
944
Businesses
807
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Michael Gillhooley • Smith & Company Real Estate
Mls Name: EUPBR
Mls Provider:
Mls ID: #25-228
Disclaimer: Copyright Eastern Upper Peninsula Board of Realtors. All rights reserved. Information is deemed reliable but not guaranteed. The listing brokers offer of compensation is made only to participants of the MLS where the listing is filed.