500 N Westwood DrIshpemingMI49849
INVESTMENT ANALYSIS
Investment Verdict
Income-ProducingSteady, low-maintenance, and fundable: 500 N Westwood Dr, Ishpeming, MI, 49849 in Ishpeming at $422,775. Rental yield 6.77%. The 6.77% yield and 1.26 DSCR put this right in the range Ziffy Mortgage approves for non-U.S. investors without W-2s or domestic credit. Appreciation at 5%/yr is projected to add $116,805 by year five, and $3,894/yr in principal reduction steadily grows the investor's stake. Total projected cumulative return: $135,228.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 6.8% | 7.0% |
| Monthly Cash Flow | $(402) | $350 |
City averages based on Ishpeming market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,386 |
| Total Monthly Debt Service | $2,620 |
| DSCR Ratio | 0.91x |
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 1900
3.85 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49849, Ishpeming, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,962 (100%) |
| Owner Occupied HU | 4,105 (68.9%) |
| Renter Occupied HU | 1,012 (17.0%) |
| Vacant Housing Units | 845 (14.2%) |
| Median Home Value | $194,073 |
| Average Home Value | $267,105 |
Housing Distribution
Address Breakdown
Residential
5,231
Single Family
4,802
Multi-Family
429
Businesses
318
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 1900
3.85 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49849, Ishpeming, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,962 (100%) |
| Owner Occupied HU | 4,105 (68.9%) |
| Renter Occupied HU | 1,012 (17.0%) |
| Vacant Housing Units | 845 (14.2%) |
| Median Home Value | $194,073 |
| Average Home Value | $267,105 |
Housing Distribution
Address Breakdown
Residential
5,231
Single Family
4,802
Multi-Family
429
Businesses
318
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: DYLAN WILLEY • COLDWELL BANKER SCHMIDT REALTORS
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50174464
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