801 E Spruce StSault Sainte MarieMI49783
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderFor first-time U.S. investors or those diversifying conservatively, 801 E Spruce St, Sault Sainte Marie, MI, 49783 in Sault Sainte Marie offers a clean, manageable entry. Rental yield 7.12%. DSCR 1.32 qualifies for Ziffy Mortgage's no-W2 mortgage for non-U.S. residents. Long-term: 5% annual appreciation projects $75,839 in additional property value over five years, with $2,528/yr in principal equity building ownership stake. Total projected cumulative return: $92,899.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.1% | 8.1% |
| Monthly Cash Flow | $(182) | $600 |
City averages based on Sault Sainte Marie market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,628 |
| Total Monthly Debt Service | $1,701 |
| DSCR Ratio | 0.96x |
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 1910
4,515 sqft 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
Single Family
Built in 1910
4,515 sqft 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: Anna Piche • Smith & Company Real Estate
Mls Name: EUPBR
Mls Provider:
Mls ID: #25-118
Disclaimer: Copyright Eastern Upper Peninsula Board of Realtors. All rights reserved. Information is deemed reliable but not guaranteed. The listing brokers offer of compensation is made only to participants of the MLS where the listing is filed.