2880 N State Rd #2LutherMI49656
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 2880 N State Rd #2, Luther, MI, 49656 in Luther at $345,000 earns $2,306/mo in rent and nets $31/mo after the $1,551/mo payment, a 8.02% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $95,317 over five years. Ziffy Mortgage underwrites this on a 1.49 DSCR without U.S. credit history. With $3,177/yr in principal paydown, total projected return reaches $133,461.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8% | 6.0% |
| Monthly Cash Flow | $31 | $500 |
City averages based on Luther market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,306 |
| Total Monthly Debt Service | $2,138 |
| DSCR Ratio | 1.08x |
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 1950
40 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49656, Luther, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,603 (100%) |
| Owner Occupied HU | 666 (41.5%) |
| Renter Occupied HU | 96 ( 6.0%) |
| Vacant Housing Units | 841 (52.5%) |
| Median Home Value | $149,306 |
| Average Home Value | $214,223 |
Housing Distribution
Address Breakdown
Residential
728
Single Family
728
Multi-Family
0
Businesses
19
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 1950
40 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49656, Luther, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,603 (100%) |
| Owner Occupied HU | 666 (41.5%) |
| Renter Occupied HU | 96 ( 6.0%) |
| Vacant Housing Units | 841 (52.5%) |
| Median Home Value | $149,306 |
| Average Home Value | $214,223 |
Housing Distribution
Address Breakdown
Residential
728
Single Family
728
Multi-Family
0
Businesses
19
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices