2460 Shoreham Highlands StSaint JosephMI49085
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderThe headline number at 2460 Shoreham Highlands St, Saint Joseph, MI, 49085 in Saint Joseph is the 1.56 coverage ratio: rent of $1,994/mo versus a $1,282/mo debt payment on a $285,000 property. Rental yield 7.98%. That margin is what gives Ziffy Mortgage's DSCR loan the coverage it needs for a clean, fast approval, no W-2s, no U.S. residency. Appreciation at 5%/yr projects $78,740 by year five, with $2,625/yr in equity from paydown. Total projected cumulative return: $85,943.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8% | 7.2% |
| Monthly Cash Flow | $(484) | $350 |
City averages based on Saint Joseph market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,994 |
| Total Monthly Debt Service | $2,266 |
| DSCR Ratio | 0.88x |
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 1989
1.19 Acres lot
$N/A/sqft
$500 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 1989
1.19 Acres lot
$N/A/sqft
$500 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: Silvia Burkett • Realty Executives Instant Equity
Mls Name: MichRIC
Mls Provider:
Mls ID: #25033667
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2025 MichRIC, LLC. All rights reserved.