1505 Luce CtAlmaMI48801
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors targeting immediate dollar income will find 1505 Luce Ct, Alma, MI, 48801 in Alma hard to pass up. The 10.96% gross yield on a $465,000 purchase results in $4,246/mo in rent and $1,179/mo in net cash, well above the spread required for Ziffy Mortgage's DSCR qualification (2.03). Annual cash flow of $14,150, five-year appreciation of $128,471, and $4,283/yr in equity build-up combine for a projected total cumulative return of $253,062.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11% | 8.0% |
| Monthly Cash Flow | $1,179 | $1,200 |
City averages based on Alma market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $4,246 |
| Total Monthly Debt Service | $2,881 |
| DSCR Ratio | 1.47x |
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 2024
0.52 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48801, Alma, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,977 (100%) |
| Owner Occupied HU | 3,219 (64.7%) |
| Renter Occupied HU | 1,374 (27.6%) |
| Vacant Housing Units | 384 ( 7.7%) |
| Median Home Value | $135,782 |
| Average Home Value | $176,817 |
Housing Distribution
Address Breakdown
Residential
4,884
Single Family
4,551
Multi-Family
333
Businesses
504
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 2024
0.52 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48801, Alma, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,977 (100%) |
| Owner Occupied HU | 3,219 (64.7%) |
| Renter Occupied HU | 1,374 (27.6%) |
| Vacant Housing Units | 384 ( 7.7%) |
| Median Home Value | $135,782 |
| Average Home Value | $176,817 |
Housing Distribution
Address Breakdown
Residential
4,884
Single Family
4,551
Multi-Family
333
Businesses
504
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices