16032 Goodwin Ave #5Union PierMI49129
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayInvestors who prioritise long-run asset value over immediate income should consider 16032 Goodwin Ave #5, Union Pier, MI, 49129 in Union Pier. Rental yield 5.33%. At $559,000 with 5.33% gross yield, current distributions are modest, but the 5% appreciation rate projects $154,441 in new equity by year five, complemented by $5,148/yr in principal paydown. Ziffy Mortgage's DSCR loan (0.99) allows non-U.S. residents to acquire without W-2s or domestic credit. Total projected five-year cumulative return: $115,653.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 5.3% | 7.2% |
| Monthly Cash Flow | $(1,534) | $850 |
City averages based on Union Pier market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,485 |
| Total Monthly Debt Service | $3,797 |
| DSCR Ratio | 0.65x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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.
Condo
Built in 2005
2.13 Acres lot
$N/A/sqft
$1,000 quarterly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49129, Union Pier, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,246 (100%) |
| Owner Occupied HU | 300 (24.1%) |
| Renter Occupied HU | 46 ( 3.7%) |
| Vacant Housing Units | 900 (72.2%) |
| Median Home Value | $506,579 |
| Average Home Value | $697,942 |
Housing Distribution
Address Breakdown
Residential
377
Single Family
351
Multi-Family
26
Businesses
57
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
Condo
Built in 2005
2.13 Acres lot
$N/A/sqft
$1,000 quarterly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49129, Union Pier, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,246 (100%) |
| Owner Occupied HU | 300 (24.1%) |
| Renter Occupied HU | 46 ( 3.7%) |
| Vacant Housing Units | 900 (72.2%) |
| Median Home Value | $506,579 |
| Average Home Value | $697,942 |
Housing Distribution
Address Breakdown
Residential
377
Single Family
351
Multi-Family
26
Businesses
57
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Thomas R Hemingway • RE/MAX Harbor Country
Mls Name: MichRIC
Mls Provider:
Mls ID: #25043023
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2025 MichRIC, LLC. All rights reserved.