1388 Gray Dr #8Traverse CityMI49684
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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 1388 Gray Dr #8, Traverse City, MI, 49684 earns $1,567/mo cash flow from $5,816/mo rent with a $2,668/mo payment. Total monthly income totals $5,816/mo, and annual cash flow totals $18,798/yr on $179,305 capital. ROI tracks 30.54% on current figures, and rental yield reads 12.81% at a $545,000 purchase. Equity gained on principal adds $3,517/yr, and 5% annual appreciation supports $150,573 over five years. Five-year ROI reaches 161.97% and total cumulative return in cash sums $290,424. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $5,816/mo property income instead of your personal income.
Condo
Built in 2020
N/A lot
$N/A/sqft
$3,876 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49684, Traverse City, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,302 (100%) |
| Owner Occupied HU | 7,484 (60.8%) |
| Renter Occupied HU | 3,386 (27.5%) |
| Vacant Housing Units | 1,432 (11.6%) |
| Median Home Value | $398,218 |
| Average Home Value | $509,057 |
Housing Distribution
Address Breakdown
Residential
11,586
Single Family
9,750
Multi-Family
1,836
Businesses
1,955
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Listed by: Jennifer Hastings • Key Realty One-TC
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1926317
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.