324 Spruce StSouth HavenMI49090
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeInvestors who treat current yield as secondary to long-run equity growth will find 324 Spruce St, South Haven, MI, 49090 in South Haven worth modelling. At $609,000 with a 9.42% gross yield, the $4,778/mo rent leaves $140/mo after the $2,738/mo payment, sufficient to cover costs, modest in distribution. Ziffy Mortgage's 1.75 DSCR loan can finance the acquisition without personal income documentation. Appreciation of 5%/yr is projected to add $168,255 by year five; $5,609/yr in principal reduction adds further equity. Total projected return: $243,732.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.4% | 7.0% |
| Monthly Cash Flow | $140 | $800 |
City averages based on South Haven market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $4,778 |
| Total Monthly Debt Service | $4,396 |
| DSCR Ratio | 1.09x |
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 2017
2,178 sqft lot
$N/A/sqft
$359 monthly HOA
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 2017
2,178 sqft lot
$N/A/sqft
$359 monthly HOA
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Carly Jones • Engel & Volkers Shoreline
Mls Name: MichRIC
Mls Provider:
Mls ID: #24059280
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2025 MichRIC, LLC. All rights reserved.