93402 Lee St #1DowagiacMI49047
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe 9.08% yield at 93402 Lee St #1, Dowagiac, MI, 49047 in Dowagiac is solid, but the $719/mo payment compresses net cash flow to $156/mo at $159,900. This is a tight-spread property, income covers debt, with little cushion. For investors who can optimise occupancy, the upside is real: 5% annual appreciation adds $44,177 by year five, and $1,473/yr in loan paydown builds equity. Ziffy Mortgage qualifies this via DSCR (1.68) without U.S. income documentation. Total projected return: $70,975.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.1% | 6.8% |
| Monthly Cash Flow | $156 | $450 |
City averages based on Dowagiac market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,210 |
| Total Monthly Debt Service | $991 |
| DSCR Ratio | 1.22x |
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.
Condo
Built in 1900
3,920 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49047, Dowagiac, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,799 (100%) |
| Owner Occupied HU | 4,433 (56.8%) |
| Renter Occupied HU | 1,459 (18.7%) |
| Vacant Housing Units | 1,907 (24.5%) |
| Median Home Value | $194,164 |
| Average Home Value | $254,058 |
Housing Distribution
Address Breakdown
Residential
6,391
Single Family
6,179
Multi-Family
212
Businesses
425
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 1900
3,920 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49047, Dowagiac, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,799 (100%) |
| Owner Occupied HU | 4,433 (56.8%) |
| Renter Occupied HU | 1,459 (18.7%) |
| Vacant Housing Units | 1,907 (24.5%) |
| Median Home Value | $194,164 |
| Average Home Value | $254,058 |
Housing Distribution
Address Breakdown
Residential
6,391
Single Family
6,179
Multi-Family
212
Businesses
425
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices