3513 Spring StCarletonMI48117
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe cash-flow margin at 3513 Spring St, Carleton, MI, 48117 in Carleton is narrow, $176/mo net on $1,390/mo rent after the $549/mo debt service, but the property operates at break-even-plus, not a loss. At $122,000 with a 12.36% yield, the long-run equity case via 5% appreciation ($33,706 over five years) and $1,124/yr in principal paydown is where the returns accumulate. Ziffy Mortgage's 2.53 DSCR loan requires no W-2s or U.S. credit. Total projected cumulative return: $84,150.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 12.4% | 7.5% |
| Monthly Cash Flow | $176 | $350 |
City averages based on Carleton market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,390 |
| Total Monthly Debt Service | $756 |
| DSCR Ratio | 1.84x |
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.
Manufactured
Built in 2001
4,356 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48117, Carleton, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,502 (100%) |
| Owner Occupied HU | 3,873 (86.0%) |
| Renter Occupied HU | 391 ( 8.7%) |
| Vacant Housing Units | 238 ( 5.3%) |
| Median Home Value | $324,962 |
| Average Home Value | $366,736 |
Housing Distribution
Address Breakdown
Residential
4,262
Single Family
4,193
Multi-Family
69
Businesses
187
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
Manufactured
Built in 2001
4,356 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48117, Carleton, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,502 (100%) |
| Owner Occupied HU | 3,873 (86.0%) |
| Renter Occupied HU | 391 ( 8.7%) |
| Vacant Housing Units | 238 ( 5.3%) |
| Median Home Value | $324,962 |
| Average Home Value | $366,736 |
Housing Distribution
Address Breakdown
Residential
4,262
Single Family
4,193
Multi-Family
69
Businesses
187
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices