Under $200K Investment Properties for Sale in Elk Rapids, MI
Listed for sale 6 days ago
$ 199,900
ROI
24.0
Cash Flow/m
236- - Bed
- - Bath
- - sft
Capa Bran Ter, Elk Rapids, MI, 49629
Listed for sale 6 days ago
$ 159,000
ROI
23.7Cash Flow/m
173- 2 Bed
- 1 Bath
- 846 sft
616 Shadywood St, Elk Rapids, MI, 49629
$ 169,900
ROI
24.3Cash Flow/m
217- 3 Bed
- 2 Bath
- 1525 sft
714 Golfview Cir, Elk Rapids, MI, 49629
$ 124,900
ROI
24.0Cash Flow/m
146- 3 Bed
- 2 Bath
- 980 sft
616 Driftwood St, Elk Rapids, MI, 49629
Why Invest in Elk Rapids, Michigan?
Investing in Elk Rapids, MI offers opportunities in affordable properties under $200k, an attractive option for budget-conscious investors. The city's average ROI stands around 8%, supported by a solid rental yield of 7% and an average cash flow of $400 per month. The local cap rate averages 6%, with property appreciation near 3% annually. Approximately 55% of homes are renter-occupied, suggesting a steady tenant pool.
8%
Avg. ROI
7%
Rental Yield
6%
Cap Rate
$400/mo
Avg. Cash Flow
$850/mo
Avg. Rent
3%
1Y Appreciation
Frequently Asked Questions
Properties under $200k in Elk Rapids typically include single-family homes, smaller condos, and some multi-family units, offering affordable entry points for investors.
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