331 E Chocolay StMunisingMI49862
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors who value predictability will appreciate 331 E Chocolay St, Munising, MI, 49862 in Munising. At $224,900 it earns $1,895/mo in rent and distributes $412/mo to the owner after the $1,011/mo payment, a consistent 10.11% yield. DSCR 1.87 clears Ziffy Mortgage's income-only underwriting standard. Over five years, 5% annual appreciation adds $62,136 in value; $2,071/yr in principal paydown compounds ownership stake. Total projected return: $112,215.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.1% | 8.0% |
| Monthly Cash Flow | $412 | $300 |
City averages based on Munising market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,895 |
| Total Monthly Debt Service | $1,394 |
| DSCR Ratio | 1.36x |
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 1920
4,791 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49862, Munising, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,483 (100%) |
| Owner Occupied HU | 1,371 (55.2%) |
| Renter Occupied HU | 343 (13.8%) |
| Vacant Housing Units | 769 (31.0%) |
| Median Home Value | $173,115 |
| Average Home Value | $218,115 |
Housing Distribution
Address Breakdown
Residential
1,802
Single Family
1,658
Multi-Family
144
Businesses
217
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 1920
4,791 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49862, Munising, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,483 (100%) |
| Owner Occupied HU | 1,371 (55.2%) |
| Renter Occupied HU | 343 (13.8%) |
| Vacant Housing Units | 769 (31.0%) |
| Median Home Value | $173,115 |
| Average Home Value | $218,115 |
Housing Distribution
Address Breakdown
Residential
1,802
Single Family
1,658
Multi-Family
144
Businesses
217
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices