1045 Three Mile Rd STraverse CityMI49696
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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 Traverse City at 1045 Three Mile Rd S, Traverse City, MI, 49696 offers a 9.23% rental yield on a $699,000 purchase with $5,376/mo rent. Total monthly income registers $5,376/mo, and a $3,421/mo payment leaves $767/mo available for distribution. Annual cash flow reaches $9,200/yr on $229,971 to close, and return on cash invested stands at 24.06% in year one. Equity gained on principal adds $4,511/yr while 5% annual appreciation supports $193,121 over five years. Portfolio math shows five-year ROI at 125.6% and total cumulative return in cash at $288,854. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $5,376/mo property income against a $3,421/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1998
3.78 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49696, Traverse City, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,804 (100%) |
| Owner Occupied HU | 3,505 (73.0%) |
| Renter Occupied HU | 631 (13.1%) |
| Vacant Housing Units | 668 (13.9%) |
| Median Home Value | $370,334 |
| Average Home Value | $476,598 |
Housing Distribution
Address Breakdown
Residential
4,328
Single Family
4,327
Multi-Family
1
Businesses
438
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Listed by: Rebecca Brown • The Mitten Real Estate Group
Mls Name: NGLRMLS
Mls ID: #1937764