4740 E Water View DrLake LeelanauMI49653
INVESTMENT ANALYSIS
Investment Verdict
Income-ProducingCapital preservation and steady income define 4740 E Water View Dr, Lake Leelanau, MI, 49653 in Lake Leelanau. Rental yield 6.56%. The 1.22 coverage passes Ziffy Mortgage's DSCR threshold for non-U.S. residents. Five-year appreciation of $200,277 and $6,676/yr in principal reduction project total return of $223,410.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 6.6% | 6.5% |
| Monthly Cash Flow | $(879) | $850 |
City averages based on Lake Leelanau market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,961 |
| Total Monthly Debt Service | $4,492 |
| DSCR Ratio | 0.88x |
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 2018
0.94 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49653, Lake Leelanau, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,490 (100%) |
| Owner Occupied HU | 806 (54.1%) |
| Renter Occupied HU | 125 ( 8.4%) |
| Vacant Housing Units | 559 (37.5%) |
| Median Home Value | $485,246 |
| Average Home Value | $640,037 |
Housing Distribution
Address Breakdown
Residential
882
Single Family
882
Multi-Family
0
Businesses
79
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 2018
0.94 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49653, Lake Leelanau, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,490 (100%) |
| Owner Occupied HU | 806 (54.1%) |
| Renter Occupied HU | 125 ( 8.4%) |
| Vacant Housing Units | 559 (37.5%) |
| Median Home Value | $485,246 |
| Average Home Value | $640,037 |
Housing Distribution
Address Breakdown
Residential
882
Single Family
882
Multi-Family
0
Businesses
79
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: NGLRMLS
Mls ID: #1941383