3589 N Forest AveSpruceMI48762
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayThe investment thesis at 3589 N Forest Ave, Spruce, MI, 48762 in Spruce is capital appreciation. Rental yield 5.81%. The 5.81% gross yield at $279,900 falls below cash-flow thresholds, but 5% annual value growth is forecast to deliver $77,331 in additional equity by year five, an equity gain that can outpace many higher-yield markets. Ziffy Mortgage finances appreciation-play assets via DSCR (1.02) without U.S. credit history; structure with a larger down payment to optimise coverage. Total projected return: $69,875.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 5.8% | 7.0% |
| Monthly Cash Flow | $(490) | $300 |
City averages based on Spruce market data in our database. Property projections are estimates.
DSCR Rental Loan Qualification
Qualifies using the property's rental income, not your personal income.
- ✓No W-2, pay stubs, or tax returns needed
- ✓Rental income qualifies you
- ✓Built for real estate investors
| Monthly Rental Income | $1,356 |
| Total Monthly Debt Service | $1,803 |
| DSCR Ratio | 0.75x |
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 6.5% rate / 30-yr fixed, 25% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1945
0.40 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48762, Spruce, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,212 (100%) |
| Owner Occupied HU | 454 (37.5%) |
| Renter Occupied HU | 33 ( 2.7%) |
| Vacant Housing Units | 725 (59.8%) |
| Median Home Value | $278,788 |
| Average Home Value | $307,070 |
Housing Distribution
Address Breakdown
Residential
549
Single Family
549
Multi-Family
0
Businesses
24
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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
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Nearby investment properties with comparable prices
