6089 S Riverside Sault Ste Marie CirSault Sainte MarieMI49783
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeInvestors who treat current yield as secondary to long-run equity growth will find 6089 S Riverside Sault Ste Marie Cir, Sault Sainte Marie, MI, 49783 in Sault Sainte Marie worth modelling. At $209,000 with a 8.78% gross yield, the $1,530/mo rent leaves $152/mo after the $940/mo payment, sufficient to cover costs, modest in distribution. Ziffy Mortgage's 1.63 DSCR loan can finance the acquisition without personal income documentation. Appreciation of 5%/yr is projected to add $57,743 by year five; $1,925/yr in principal reduction adds further equity. Total projected return: $89,390.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.8% | 8.1% |
| Monthly Cash Flow | $152 | $600 |
City averages based on Sault Sainte Marie market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,530 |
| Total Monthly Debt Service | $1,295 |
| 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.
Manufactured
Built in 2005
0.68 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49783, Sault Sainte Marie, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,064 (100%) |
| Owner Occupied HU | 5,407 (59.7%) |
| Renter Occupied HU | 2,442 (26.9%) |
| Vacant Housing Units | 1,215 (13.4%) |
| Median Home Value | $160,218 |
| Average Home Value | $183,626 |
Housing Distribution
Address Breakdown
Residential
8,365
Single Family
7,421
Multi-Family
944
Businesses
807
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
Manufactured
Built in 2005
0.68 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49783, Sault Sainte Marie, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,064 (100%) |
| Owner Occupied HU | 5,407 (59.7%) |
| Renter Occupied HU | 2,442 (26.9%) |
| Vacant Housing Units | 1,215 (13.4%) |
| Median Home Value | $160,218 |
| Average Home Value | $183,626 |
Housing Distribution
Address Breakdown
Residential
8,365
Single Family
7,421
Multi-Family
944
Businesses
807
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: MICHAEL GILLHOOLEY • Smith & Company Real Estate
Mls Name: EUPBR
Mls ID: #26-54