3840 E Gull Lake DrHickory CornersMI49060
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayThe investment thesis at 3840 E Gull Lake Dr, Hickory Corners, MI, 49060 in Hickory Corners is capital appreciation. Rental yield 5.36%. The 5.36% gross yield at $479,500 falls below cash-flow thresholds, but 5% annual value growth is forecast to deliver $132,477 in additional equity by year five, an equity gain that can outpace many higher-yield markets. Ziffy Mortgage finances appreciation-play assets via DSCR (0.99) without U.S. credit history; structure with a larger down payment to optimise coverage. Total projected return: $117,099.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 5.4% | 7.0% |
| Monthly Cash Flow | $(1,019) | $500 |
City averages based on Hickory Corners market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,143 |
| Total Monthly Debt Service | $2,971 |
| DSCR Ratio | 0.72x |
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 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1964
1.25 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49060, Hickory Corners, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 901 (100%) |
| Owner Occupied HU | 662 (73.5%) |
| Renter Occupied HU | 92 (10.2%) |
| Vacant Housing Units | 147 (16.3%) |
| Median Home Value | $379,532 |
| Average Home Value | $837,696 |
Housing Distribution
Address Breakdown
Residential
847
Single Family
847
Multi-Family
0
Businesses
34
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 1964
1.25 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49060, Hickory Corners, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 901 (100%) |
| Owner Occupied HU | 662 (73.5%) |
| Renter Occupied HU | 92 (10.2%) |
| Vacant Housing Units | 147 (16.3%) |
| Median Home Value | $379,532 |
| Average Home Value | $837,696 |
Housing Distribution
Address Breakdown
Residential
847
Single Family
847
Multi-Family
0
Businesses
34
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Brett Zabavski • Berkshire Hathaway HomeServices MI
Mls Name: MichRIC
Mls ID: #25059602