224 W Allen StHanoverMI49241
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe yield at 224 W Allen St, Hanover, MI, 49241 in Hanover speaks for itself: 13.66% gross on a $164,900 price, generating $1,877/mo in rent and $789/mo in net income after the $741/mo debt service. DSCR 2.53, a wide margin that supports Ziffy Mortgage's DSCR loan without any personal income check. Annual cash flow of $9,472 stacks alongside $45,559 in projected five-year appreciation and $1,519/yr in principal reduction. Projected total cumulative return: $113,681.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 13.7% | 7.5% |
| Monthly Cash Flow | $789 | $450 |
City averages based on Hanover market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,877 |
| Total Monthly Debt Service | $1,022 |
| DSCR Ratio | 1.84x |
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 1920
0.38 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49241, Hanover, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,006 (100%) |
| Owner Occupied HU | 809 (80.4%) |
| Renter Occupied HU | 103 (10.2%) |
| Vacant Housing Units | 94 ( 9.3%) |
| Median Home Value | $256,694 |
| Average Home Value | $266,950 |
Housing Distribution
Address Breakdown
Residential
778
Single Family
778
Multi-Family
0
Businesses
44
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 1920
0.38 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49241, Hanover, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,006 (100%) |
| Owner Occupied HU | 809 (80.4%) |
| Renter Occupied HU | 103 (10.2%) |
| Vacant Housing Units | 94 ( 9.3%) |
| Median Home Value | $256,694 |
| Average Home Value | $266,950 |
Housing Distribution
Address Breakdown
Residential
778
Single Family
778
Multi-Family
0
Businesses
44
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices