3681 S Extension RdCheboyganMI49721
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThis Cheboygan rental at 3681 S Extension Rd, Cheboygan, MI, 49721 sits in the solid-income band: 9.16% gross yield, $2,940/mo rent, $401/mo net after the $1,731/mo debt service, DSCR 1.70. Entry price of $385,000 is well-calibrated for the income it produces. Ziffy Mortgage finances this type of asset on rental income alone, no tax returns, no U.S. credit profile. Projected five-year appreciation of $106,368 and $3,546/yr in principal reduction bring total cumulative return to $172,516.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.2% | 6.5% |
| Monthly Cash Flow | $401 | $250 |
City averages based on Cheboygan market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,940 |
| Total Monthly Debt Service | $2,386 |
| DSCR Ratio | 1.23x |
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 N/A
31 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49721, Cheboygan, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,028 (100%) |
| Owner Occupied HU | 5,139 (56.9%) |
| Renter Occupied HU | 1,234 (13.7%) |
| Vacant Housing Units | 2,655 (29.4%) |
| Median Home Value | $222,067 |
| Average Home Value | $297,208 |
Housing Distribution
Address Breakdown
Residential
7,068
Single Family
6,759
Multi-Family
309
Businesses
534
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
31 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49721, Cheboygan, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,028 (100%) |
| Owner Occupied HU | 5,139 (56.9%) |
| Renter Occupied HU | 1,234 (13.7%) |
| Vacant Housing Units | 2,655 (29.4%) |
| Median Home Value | $222,067 |
| Average Home Value | $297,208 |
Housing Distribution
Address Breakdown
Residential
7,068
Single Family
6,759
Multi-Family
309
Businesses
534
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices