200 Ludington Street Proposed Unit 2 UNIT 2EscanabaMI49829
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayInvestors who prioritise long-run asset value over immediate income should consider 200 Ludington Street Proposed Unit 2 UNIT 2, Escanaba, MI, 49829 in Escanaba. Rental yield 2.12%. At $510,557 with 2.12% gross yield, current distributions are modest, but the 5% appreciation rate projects $141,057 in new equity by year five, complemented by $4,702/yr in principal paydown. Ziffy Mortgage's DSCR loan (0.39) allows non-U.S. residents to acquire without W-2s or domestic credit. Total projected five-year cumulative return: $25,046.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 2.1% | 8.2% |
| Monthly Cash Flow | $(2,646) | $300 |
City averages based on Escanaba market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $900 |
| Total Monthly Debt Service | $3,343 |
| DSCR Ratio | 0.27x |
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 2025
N/A lot
$N/A/sqft
$179 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49829, Escanaba, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,382 (100%) |
| Owner Occupied HU | 5,369 (64.1%) |
| Renter Occupied HU | 2,181 (26.0%) |
| Vacant Housing Units | 832 ( 9.9%) |
| Median Home Value | $144,349 |
| Average Home Value | $166,997 |
Housing Distribution
Address Breakdown
Residential
7,850
Single Family
7,181
Multi-Family
669
Businesses
984
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 2025
N/A lot
$N/A/sqft
$179 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49829, Escanaba, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,382 (100%) |
| Owner Occupied HU | 5,369 (64.1%) |
| Renter Occupied HU | 2,181 (26.0%) |
| Vacant Housing Units | 832 ( 9.9%) |
| Median Home Value | $144,349 |
| Average Home Value | $166,997 |
Housing Distribution
Address Breakdown
Residential
7,850
Single Family
7,181
Multi-Family
669
Businesses
984
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: WENDY HOLZENKAMP • COLDWELL BANKER SCHMIDT ESCANABA
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50156114
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.