Off Pit Rd #3CovingtonMI49919
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThis is a cash-flow-light asset: Off Pit Rd #3, Covington, MI, 49919 in Covington, $128,000, 9.49% gross yield, $168/mo net income. Consider it a market-entry position, the $1,012/mo rent covers the $576/mo payment with a margin, and 5%/yr appreciation is projected to add $35,364 to the asset's value over five years. Ziffy Mortgage approves DSCR loans (coverage 1.76) for non-U.S. residents without domestic income documentation. Consider a higher down payment to widen the monthly margin. Total projected return: $59,564.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.5% | 5.5% |
| Monthly Cash Flow | $168 | $650 |
City averages based on Covington market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,012 |
| Total Monthly Debt Service | $793 |
| DSCR Ratio | 1.28x |
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 1980
40 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49919, Covington, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 166 (100%) |
| Owner Occupied HU | 80 (48.2%) |
| Renter Occupied HU | 9 ( 5.4%) |
| Vacant Housing Units | 77 (46.4%) |
| Median Home Value | $221,429 |
| Average Home Value | $214,375 |
Housing Distribution
Address Breakdown
Residential
68
Single Family
68
Multi-Family
0
Businesses
7
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 1980
40 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49919, Covington, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 166 (100%) |
| Owner Occupied HU | 80 (48.2%) |
| Renter Occupied HU | 9 ( 5.4%) |
| Vacant Housing Units | 77 (46.4%) |
| Median Home Value | $221,429 |
| Average Home Value | $214,375 |
Housing Distribution
Address Breakdown
Residential
68
Single Family
68
Multi-Family
0
Businesses
7
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: TIM KEOHANE • GREAT LAKES & LAND OF MARQUETTE, INC.
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50152867
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.