47 S 3rd StNilesMI49120
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayThe investment thesis at 47 S 3rd St, Niles, MI, 49120 in Niles is capital appreciation. Rental yield 5%. The 5% gross yield at $385,000 falls below cash-flow thresholds, but 5% annual value growth is forecast to deliver $106,368 in additional equity by year five, an equity gain that can outpace many higher-yield markets. Ziffy Mortgage finances appreciation-play assets via DSCR (0.93) without U.S. credit history; structure with a larger down payment to optimise coverage. Total projected return: $86,668.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 5% | 6.5% |
| Monthly Cash Flow | $(933) | $350 |
City averages based on Niles market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,606 |
| Total Monthly Debt Service | $2,386 |
| DSCR Ratio | 0.67x |
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.
Multi Family
Built in 1918
7,840 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49120, Niles, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,517 (100%) |
| Owner Occupied HU | 11,816 (71.5%) |
| Renter Occupied HU | 3,504 (21.2%) |
| Vacant Housing Units | 1,197 ( 7.2%) |
| Median Home Value | $196,962 |
| Average Home Value | $257,729 |
Housing Distribution
Address Breakdown
Residential
15,849
Single Family
14,815
Multi-Family
1,034
Businesses
1,035
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
Multi Family
Built in 1918
7,840 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49120, Niles, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,517 (100%) |
| Owner Occupied HU | 11,816 (71.5%) |
| Renter Occupied HU | 3,504 (21.2%) |
| Vacant Housing Units | 1,197 ( 7.2%) |
| Median Home Value | $196,962 |
| Average Home Value | $257,729 |
Housing Distribution
Address Breakdown
Residential
15,849
Single Family
14,815
Multi-Family
1,034
Businesses
1,035
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices