600 Walnut StNorwayMI49870
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowSolid, durable, and financeable, 600 Walnut St, Norway, MI, 49870 in Norway earns a 11.43% gross yield at $145,000. Rent of $1,381/mo nets $425/mo after the $652/mo mortgage. The 2.12 DSCR signals clean DSCR underwriting through Ziffy Mortgage, with no personal income verification required. Five-year value growth of $40,061 and $1,335/yr in equity accumulation project a total cumulative return of $82,594.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.4% | 7.0% |
| Monthly Cash Flow | $425 | $700 |
City averages based on Norway market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,381 |
| Total Monthly Debt Service | $899 |
| DSCR Ratio | 1.54x |
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 1970
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49870, Norway, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,591 (100%) |
| Owner Occupied HU | 1,119 (70.3%) |
| Renter Occupied HU | 315 (19.8%) |
| Vacant Housing Units | 157 ( 9.9%) |
| Median Home Value | $161,773 |
| Average Home Value | $196,988 |
Housing Distribution
Address Breakdown
Residential
1,481
Single Family
1,397
Multi-Family
84
Businesses
136
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 1970
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49870, Norway, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,591 (100%) |
| Owner Occupied HU | 1,119 (70.3%) |
| Renter Occupied HU | 315 (19.8%) |
| Vacant Housing Units | 157 ( 9.9%) |
| Median Home Value | $161,773 |
| Average Home Value | $196,988 |
Housing Distribution
Address Breakdown
Residential
1,481
Single Family
1,397
Multi-Family
84
Businesses
136
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: JEFF DOHL • RE/MAX NORTH COUNTRY-IR
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50185606
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.