101 Michigan Ave #103CharlevoixMI49720
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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
Investment Highlights
Total monthly income runs $1,375/mo, and a $1,219/mo payment. Purchase price stands at $249,000, and rental yield measures 6.63% with $1,375/mo rent. Return on cash invested shows 16.02% in year one, and 5% annual appreciation builds toward $68,794 over five years. Five-year ROI reaches 82.54% and total cumulative return in cash records $68,132. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,375/mo property income covering a $1,219/mo payment rather than investor’s personal income.
Condo
Built in N/A
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49720, Charlevoix, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,248 (100%) |
| Owner Occupied HU | 3,482 (55.7%) |
| Renter Occupied HU | 798 (12.8%) |
| Vacant Housing Units | 1,968 (31.5%) |
| Median Home Value | $298,267 |
| Average Home Value | $400,844 |
Housing Distribution
Address Breakdown
Residential
5,378
Single Family
4,848
Multi-Family
530
Businesses
504
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Listed by: William Winslow • Coldwell Banker Schmidt- Harbor Springs
Mls Name: Northern Michigan MLS
Mls Provider:
Mls ID: #475804
Disclaimer: Copyright Northern Michigan MLS (NM-MLSX). All rights reserved. Information is deemed reliable but not guaranteed.