3 E Lakeshore DrHopeMI48628
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayYield and appreciation often trade off, and at 3 E Lakeshore Dr, Hope, MI, 48628 in Hope the bet is firmly on appreciation. Rental yield 4.41%. The 4.41% gross yield on a $599,000 price is below income-first thresholds, but 5%/yr value growth projects $165,493 in equity by year five. Ziffy Mortgage's non-U.S. DSCR mortgage (0.82) finances the acquisition on rental income alone. A larger down payment (30–35%) reduces monthly debt service and tightens the spread. Total projected cumulative return: $115,372.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 4.4% | 7.0% |
| Monthly Cash Flow | $(1,755) | $850 |
City averages based on Hope market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,200 |
| Total Monthly Debt Service | $3,716 |
| DSCR Ratio | 0.59x |
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.
Single Family
Built in N/A
7,405 sqft lot
$N/A/sqft
$50 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48628, Hope, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,133 (100%) |
| Owner Occupied HU | 792 (69.9%) |
| Renter Occupied HU | 58 ( 5.1%) |
| Vacant Housing Units | 283 (25.0%) |
| Median Home Value | $205,263 |
| Average Home Value | $253,302 |
Housing Distribution
Address Breakdown
Residential
963
Single Family
945
Multi-Family
18
Businesses
22
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 N/A
7,405 sqft lot
$N/A/sqft
$50 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48628, Hope, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,133 (100%) |
| Owner Occupied HU | 792 (69.9%) |
| Renter Occupied HU | 58 ( 5.1%) |
| Vacant Housing Units | 283 (25.0%) |
| Median Home Value | $205,263 |
| Average Home Value | $253,302 |
Housing Distribution
Address Breakdown
Residential
963
Single Family
945
Multi-Family
18
Businesses
22
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices