230 Water St APT GSaint JosephMI49085
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayMarkets with strong demand fundamentals often produce low-yield, high-appreciation assets. 230 Water St APT G, Saint Joseph, MI, 49085 in Saint Joseph fits: $749,000, 3.09% gross yield, and a projected 5% annual appreciation rate adding $206,935 in value within five years. Rental yield 3.09%. The narrow rent-to-debt spread is the trade-off for market growth. Ziffy Mortgage's DSCR loan (0.57) finances non-U.S. buyers without personal income documentation; optimise coverage with a 30–35% down payment. $6,898/yr in principal paydown and $206,935 in appreciation project a total return of $46,992.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 3.1% | 7.2% |
| Monthly Cash Flow | $(3,754) | $350 |
City averages based on Saint Joseph market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,930 |
| Total Monthly Debt Service | $5,386 |
| DSCR Ratio | 0.36x |
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 1987
N/A lot
$N/A/sqft
$745 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49085, Saint Joseph, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,734 (100%) |
| Owner Occupied HU | 8,123 (69.2%) |
| Renter Occupied HU | 2,388 (20.4%) |
| Vacant Housing Units | 1,223 (10.4%) |
| Median Home Value | $316,036 |
| Average Home Value | $368,464 |
Housing Distribution
Address Breakdown
Residential
11,303
Single Family
10,112
Multi-Family
1,191
Businesses
1,141
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 1987
N/A lot
$N/A/sqft
$745 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49085, Saint Joseph, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,734 (100%) |
| Owner Occupied HU | 8,123 (69.2%) |
| Renter Occupied HU | 2,388 (20.4%) |
| Vacant Housing Units | 1,223 (10.4%) |
| Median Home Value | $316,036 |
| Average Home Value | $368,464 |
Housing Distribution
Address Breakdown
Residential
11,303
Single Family
10,112
Multi-Family
1,191
Businesses
1,141
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: The Jardine Group • @properties Christie's International R.E.
Mls Name: MichRIC
Mls Provider:
Mls ID: #25022034
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2025 MichRIC, LLC. All rights reserved.