101 Michigan Ave #107CharlevoixMI49720
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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
Investment property for sale in Charlevoix at 101 Michigan Ave #107, Charlevoix, MI, 49720 listed at $229,000 pairs $1,592/mo rent with a $1,121/mo payment to leave $82/mo cash flow. Total monthly income runs $1,592/mo, and annual cash flow reaches $980/yr on $75,914 cash to close. Return on cash invested measures 21.2% in year one, and rental yield registers 8.34% at a $229,000 basis. Equity gained on principal adds $1,478/yr, and annual property appreciation at 5% supports $63,268 by year five. Five-year ROI tracks 110.31% and total cumulative return in cash totals $83,741. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,592/mo property income relative to a $1,121/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
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 ID: #476793