137 Center StElk RapidsMI49629
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 Elk Rapids at 137 Center St, Elk Rapids, MI, 49629 priced at $412,250 pairs $3,007/mo rent with $288/mo cash flow after a $2,018/mo payment. Total monthly income equals $3,007/mo, and annual cash flow comes to $3,458/yr on $136,661 invested. Return on cash invested is 22.44% in year one, and rental yield stands at 8.75% on a $412,250 basis. Equity gained on principal adds $2,660/yr, and 5% annual appreciation accumulates to $113,897 by year five. Five-year ROI measures 116.97% and total cumulative return in cash reaches $159,850. For financing, Ziffy Mortgage’s DSCR program evaluates $3,007/mo property income against a $2,018/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1990
8,276 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49629, Elk Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,708 (100%) |
| Owner Occupied HU | 899 (52.6%) |
| Renter Occupied HU | 151 ( 8.8%) |
| Vacant Housing Units | 658 (38.5%) |
| Median Home Value | $372,701 |
| Average Home Value | $458,910 |
Housing Distribution
Address Breakdown
Residential
1,157
Single Family
1,026
Multi-Family
131
Businesses
247
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Nearby investment properties with comparable prices
Listed by: Chelsea Bryant • Real Broker, LLC.
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1925463
Disclaimer: The information in this listing was gathered from third-party sources including the seller. Northern Great Lakes REALTORS MLS and its subscribers disclaim any and all representations or warranties as to the accuracy of this information. Copyright 2024 Northern Great Lakes REALTORS MLS. All Rights Reserved.