615 Shorefront CirMidlandMI48640
INVESTMENT ANALYSIS
Investment Verdict
Solid Income615 Shorefront Cir, Midland, MI, 48640 in Midland carries a 1.60 coverage ratio, rent of $1,730/mo is 1.60 times the $1,079/mo payment. Rental yield 8.65%. That margin gives both the investor and Ziffy Mortgage's DSCR underwriting a comfortable buffer at a $240,000 acquisition price. No U.S. credit or income documentation required. Five-year appreciation adds $66,308; total projected cumulative return: $82,914.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.7% | 6.5% |
| Monthly Cash Flow | $(152) | $400 |
City averages based on Midland market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,730 |
| Total Monthly Debt Service | $1,787 |
| DSCR Ratio | 0.97x |
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.
Condo
Built in 1992
N/A lot
$N/A/sqft
$300 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48640, Midland, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,874 (100%) |
| Owner Occupied HU | 10,179 (73.4%) |
| Renter Occupied HU | 2,982 (21.5%) |
| Vacant Housing Units | 713 ( 5.1%) |
| Median Home Value | $218,735 |
| Average Home Value | $255,286 |
Housing Distribution
Address Breakdown
Residential
13,764
Single Family
13,044
Multi-Family
720
Businesses
1,076
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
Condo
Built in 1992
N/A lot
$N/A/sqft
$300 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48640, Midland, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,874 (100%) |
| Owner Occupied HU | 10,179 (73.4%) |
| Renter Occupied HU | 2,982 (21.5%) |
| Vacant Housing Units | 713 ( 5.1%) |
| Median Home Value | $218,735 |
| Average Home Value | $255,286 |
Housing Distribution
Address Breakdown
Residential
13,764
Single Family
13,044
Multi-Family
720
Businesses
1,076
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jon Miller • Ayre Rhinehart Real Estate Partners
Mls Name: MIDMLS
Mls Provider:
Mls ID: #50169248
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.