13456-7 Stover Rd UNIT 7CharlevoixMI49720
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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
Rental property for sale in Charlevoix at 13456-7 Stover Rd UNIT 7, Charlevoix, MI, 49720 generates $1,320/mo in rent, after a $1,170/mo payment. Total monthly income is $1,320/mo. Return on cash invested sits at 16.03% in year one, and rental yield is 6.63% on a $239,000 entry. Equity gained on principal adds $1,542/yr, while 5% annual appreciation builds toward $66,031 over five years. Five-year ROI reaches 82.58% and total cumulative return in cash sums $65,424. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,320/mo property income rather than buyer’s personal income.
Condo
Built in 1989
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: A. Mitts Lee • Berkshire Hathaway HomeServices Real Estate
Mls Name: Northern Michigan MLS
Mls Provider:
Mls ID: #476511
Disclaimer: Copyright Northern Michigan MLS (NM-MLSX). All rights reserved. Information is deemed reliable but not guaranteed.