8500 E Horn RdLake LeelanauMI49653
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 8500 E Horn Rd, Lake Leelanau, MI, 49653 in Lake Leelanau at $379,900 earns $2,685/mo in rent and nets $180/mo after the $1,708/mo payment, a 8.48% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $104,959 over five years. Ziffy Mortgage underwrites this on a 1.57 DSCR without U.S. credit history. With $3,499/yr in principal paydown, total projected return reaches $156,345.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.5% | 6.5% |
| Monthly Cash Flow | $180 | $850 |
City averages based on Lake Leelanau market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,685 |
| Total Monthly Debt Service | $2,354 |
| DSCR Ratio | 1.14x |
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 1975
5.01 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49653, Lake Leelanau, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,490 (100%) |
| Owner Occupied HU | 806 (54.1%) |
| Renter Occupied HU | 125 ( 8.4%) |
| Vacant Housing Units | 559 (37.5%) |
| Median Home Value | $485,246 |
| Average Home Value | $640,037 |
Housing Distribution
Address Breakdown
Residential
882
Single Family
882
Multi-Family
0
Businesses
79
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 1975
5.01 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49653, Lake Leelanau, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,490 (100%) |
| Owner Occupied HU | 806 (54.1%) |
| Renter Occupied HU | 125 ( 8.4%) |
| Vacant Housing Units | 559 (37.5%) |
| Median Home Value | $485,246 |
| Average Home Value | $640,037 |
Housing Distribution
Address Breakdown
Residential
882
Single Family
882
Multi-Family
0
Businesses
79
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Alexys Apol • Nexes Realty Muskegon
Mls Name: MichRIC
Mls ID: #25038655