176 Harbor Dr #55LudingtonMI49431
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayAt a 2.54% gross rental yield, 176 Harbor Dr #55, Ludington, MI, 49431 in Ludington is priced for capital growth, not immediate cash flow. The $850,000 purchase reflects market confidence in future value: at 5%/yr, the property is forecast to gain $234,839 by year five, with $7,829/yr in additional equity from loan paydown. Ziffy Mortgage's DSCR mortgage (0.47) qualifies for non-U.S. residents without personal income documents. Total five-year projected cumulative return: $78,934.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 2.5% | 6.4% |
| Monthly Cash Flow | $(3,805) | $280 |
City averages based on Ludington market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,800 |
| Total Monthly Debt Service | $5,267 |
| DSCR Ratio | 0.34x |
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 1993
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49431, Ludington, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,373 (100%) |
| Owner Occupied HU | 5,754 (55.5%) |
| Renter Occupied HU | 1,973 (19.0%) |
| Vacant Housing Units | 2,646 (25.5%) |
| Median Home Value | $238,393 |
| Average Home Value | $281,324 |
Housing Distribution
Address Breakdown
Residential
8,827
Single Family
7,558
Multi-Family
1,269
Businesses
857
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 1993
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49431, Ludington, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,373 (100%) |
| Owner Occupied HU | 5,754 (55.5%) |
| Renter Occupied HU | 1,973 (19.0%) |
| Vacant Housing Units | 2,646 (25.5%) |
| Median Home Value | $238,393 |
| Average Home Value | $281,324 |
Housing Distribution
Address Breakdown
Residential
8,827
Single Family
7,558
Multi-Family
1,269
Businesses
857
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices