806 E Loomis StLudingtonMI49431
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 806 E Loomis St, Ludington, MI, 49431 in Ludington at $229,000 earns $1,572/mo in rent and nets $62/mo after the $1,030/mo payment, a 8.24% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $63,268 over five years. Ziffy Mortgage underwrites this on a 1.53 DSCR without U.S. credit history. With $2,109/yr in principal paydown, total projected return reaches $91,218.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.2% | 6.4% |
| Monthly Cash Flow | $62 | $280 |
City averages based on Ludington market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,572 |
| Total Monthly Debt Service | $1,419 |
| DSCR Ratio | 1.11x |
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 1910
8,276 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49431, Ludington, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,373 (100%) |
| Owner Occupied HU | 5,754 (55.5%) |
| Renter Occupied HU | 1,973 (19.0%) |
| Vacant Housing Units | 2,646 (25.5%) |
| Median Home Value | $238,393 |
| Average Home Value | $281,324 |
Housing Distribution
Address Breakdown
Residential
8,827
Single Family
7,558
Multi-Family
1,269
Businesses
857
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
8,276 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49431, Ludington, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,373 (100%) |
| Owner Occupied HU | 5,754 (55.5%) |
| Renter Occupied HU | 1,973 (19.0%) |
| Vacant Housing Units | 2,646 (25.5%) |
| Median Home Value | $238,393 |
| Average Home Value | $281,324 |
Housing Distribution
Address Breakdown
Residential
8,827
Single Family
7,558
Multi-Family
1,269
Businesses
857
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices