187 Washington StSaranacMI48881
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeInvestors who treat current yield as secondary to long-run equity growth will find 187 Washington St, Saranac, MI, 48881 in Saranac worth modelling. At $245,900 with a 8.43% gross yield, the $1,727/mo rent leaves $105/mo after the $1,106/mo payment, sufficient to cover costs, modest in distribution. Ziffy Mortgage's 1.56 DSCR loan can finance the acquisition without personal income documentation. Appreciation of 5%/yr is projected to add $67,938 by year five; $2,265/yr in principal reduction adds further equity. Total projected return: $100,439.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.4% | 6.5% |
| Monthly Cash Flow | $105 | $450 |
City averages based on Saranac market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,727 |
| Total Monthly Debt Service | $1,524 |
| DSCR Ratio | 1.13x |
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 1997
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48881, Saranac, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,270 (100%) |
| Owner Occupied HU | 1,863 (82.1%) |
| Renter Occupied HU | 300 (13.2%) |
| Vacant Housing Units | 107 ( 4.7%) |
| Median Home Value | $256,804 |
| Average Home Value | $278,180 |
Housing Distribution
Address Breakdown
Residential
2,140
Single Family
1,993
Multi-Family
147
Businesses
101
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 1997
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48881, Saranac, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,270 (100%) |
| Owner Occupied HU | 1,863 (82.1%) |
| Renter Occupied HU | 300 (13.2%) |
| Vacant Housing Units | 107 ( 4.7%) |
| Median Home Value | $256,804 |
| Average Home Value | $278,180 |
Housing Distribution
Address Breakdown
Residential
2,140
Single Family
1,993
Multi-Family
147
Businesses
101
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices