2503 S Lake Leelanau DrLake LeelanauMI49653
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity Builder2503 S Lake Leelanau Dr, Lake Leelanau, MI, 49653 in Lake Leelanau is a stable, well-positioned rental at $625,000. Rental yield 7.28%. DSCR 1.28 qualifies for Ziffy Mortgage's DSCR mortgage without U.S. income documentation. Over five years, 5% appreciation adds $172,676 in value and $5,239/yr in principal paydown builds equity, a total projected return of $205,013.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.3% | 6.5% |
| Monthly Cash Flow | $(332) | $850 |
City averages based on Lake Leelanau market data in our database. Property projections are estimates.
DSCR Rental Loan Qualification
Qualifies using the property's rental income, not your personal income.
- ✓No W-2, pay stubs, or tax returns needed
- ✓Rental income qualifies you
- ✓Built for real estate investors
| Monthly Rental Income | $3,790 |
| Total Monthly Debt Service | $4,025 |
| DSCR Ratio | 0.94x |
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 6.5% rate / 30-yr fixed, 25% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 2018
5 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49653, Lake Leelanau, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,490 (100%) |
| Owner Occupied HU | 806 (54.1%) |
| Renter Occupied HU | 125 ( 8.4%) |
| Vacant Housing Units | 559 (37.5%) |
| Median Home Value | $485,246 |
| Average Home Value | $640,037 |
Housing Distribution
Address Breakdown
Residential
882
Single Family
882
Multi-Family
0
Businesses
79
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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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1950110
