5188 Grigsby LnPetoskeyMI49770
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeSolid fundamentals define the investment case at 5188 Grigsby Ln, Petoskey, MI, 49770 in Petoskey: $3,559/mo in rent, $361/mo in net income, 8.81% gross yield, 1.63 DSCR, all at $485,000. Ziffy Mortgage's DSCR mortgage qualifies using the property's income alone, clearing approval without U.S. residency or credit. Five-year equity from $133,997 in appreciation and $4,467/yr in principal paydown projects total cumulative return of $207,981.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.8% | 7.2% |
| Monthly Cash Flow | $361 | $350 |
City averages based on Petoskey market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,559 |
| Total Monthly Debt Service | $3,005 |
| DSCR Ratio | 1.18x |
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 1997
1.88 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49770, Petoskey, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,448 (100%) |
| Owner Occupied HU | 5,615 (53.7%) |
| Renter Occupied HU | 2,324 (22.2%) |
| Vacant Housing Units | 2,509 (24.0%) |
| Median Home Value | $336,183 |
| Average Home Value | $446,093 |
Housing Distribution
Address Breakdown
Residential
9,179
Single Family
8,003
Multi-Family
1,176
Businesses
1,216
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 1997
1.88 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49770, Petoskey, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,448 (100%) |
| Owner Occupied HU | 5,615 (53.7%) |
| Renter Occupied HU | 2,324 (22.2%) |
| Vacant Housing Units | 2,509 (24.0%) |
| Median Home Value | $336,183 |
| Average Home Value | $446,093 |
Housing Distribution
Address Breakdown
Residential
9,179
Single Family
8,003
Multi-Family
1,176
Businesses
1,216
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Robert Brick • REMAX Bayshore - W Bay Shore Dr TC
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1933120
Disclaimer: The information in this listing was gathered from third-party sources including the seller. Northern Great Lakes REALTORS MLS and its subscribers disclaim any and all representations or warranties as to the accuracy of this information. Copyright 2025 Northern Great Lakes REALTORS MLS. All Rights Reserved.