18918 Canal RdHoughtonMI49931
INVESTMENT ANALYSIS
Investment Verdict
Income-Producing18918 Canal Rd, Houghton, MI, 49931 in Houghton is a stable, well-positioned rental at $857,000. Rental yield 6.71%. DSCR 1.24 qualifies for Ziffy Mortgage's DSCR mortgage without U.S. income documentation. Over five years, 5% appreciation adds $236,773 in value and $7,893/yr in principal paydown builds equity, a total projected return of $271,060.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 6.7% | 7.2% |
| Monthly Cash Flow | $(861) | $400 |
City averages based on Houghton market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $4,790 |
| Total Monthly Debt Service | $5,311 |
| DSCR Ratio | 0.90x |
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.
Single Family
Built in 1987
0.47 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49931, Houghton, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,494 (100%) |
| Owner Occupied HU | 1,541 (44.1%) |
| Renter Occupied HU | 1,514 (43.3%) |
| Vacant Housing Units | 439 (12.6%) |
| Median Home Value | $250,764 |
| Average Home Value | $265,490 |
Housing Distribution
Address Breakdown
Residential
3,565
Single Family
2,608
Multi-Family
957
Businesses
489
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 1987
0.47 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49931, Houghton, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,494 (100%) |
| Owner Occupied HU | 1,541 (44.1%) |
| Renter Occupied HU | 1,514 (43.3%) |
| Vacant Housing Units | 439 (12.6%) |
| Median Home Value | $250,764 |
| Average Home Value | $265,490 |
Housing Distribution
Address Breakdown
Residential
3,565
Single Family
2,608
Multi-Family
957
Businesses
489
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: BARBARA PARKER • RE/MAX DOUGLASS R.E.-H
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50175224
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.