1280 Garfield 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 1280 Garfield Rd S, Traverse City, MI, 49696 uses $116,025 cash to close to unlock $8,832/yr annual cash flow and $736/mo monthly cash flow. Total monthly income runs $3,044/mo, and a $1,713/mo payment keeps the spread at $736/mo. Purchase price stands at $350,000, and rental yield measures 10.44% with $3,044/mo rent. Return on cash invested shows 27.52% in year one, and 5% annual appreciation builds toward $96,699 over five years. Five-year ROI reaches 144.19% and total cumulative return in cash records $167,294. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,044/mo property income covering a $1,713/mo payment rather than investor’s personal income.
Single Family
Built in 1935
4.24 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: Ann Porter • REO-TCRandolph-233022
Mls Name: NGLRMLS
Mls ID: #1936618