1117 E Mitchell StPetoskeyMI49770
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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 Petoskey at 1117 E Mitchell St, Petoskey, MI, 49770 uses $99,119 cash to close to unlock $1,220/yr annual cash flow and $102/mo monthly cash flow. Total monthly income runs $2,073/mo, and a $1,463/mo payment keeps the spread at $102/mo. Purchase price stands at $299,000, and rental yield measures 8.32% with $2,073/mo rent. Return on cash invested shows 21.14% in year one, and 5% annual appreciation builds toward $82,608 over five years. Five-year ROI reaches 109.99% and total cumulative return in cash records $109,018. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,073/mo property income covering a $1,463/mo payment rather than investor’s personal income.
Single Family
Built in N/A
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49770, Petoskey, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,448 (100%) |
| Owner Occupied HU | 5,615 (53.7%) |
| Renter Occupied HU | 2,324 (22.2%) |
| Vacant Housing Units | 2,509 (24.0%) |
| Median Home Value | $336,183 |
| Average Home Value | $446,093 |
Housing Distribution
Address Breakdown
Residential
9,179
Single Family
8,003
Multi-Family
1,176
Businesses
1,216
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