144 River St APT BElk RapidsMI49629
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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 Elk Rapids at 144 River St APT B, Elk Rapids, MI, 49629 earns from $1,014/mo rent with a $1,713/mo payment. Total monthly income totals $1,014/mo. ROI tracks 6.52% on current figures, and rental yield reads 3.48% at a $349,900 purchase. Equity gained on principal adds $2,258/yr, and 5% annual appreciation supports $96,671 over five years. Five-year ROI reaches 31.62% and total cumulative return in cash sums $36,678. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,014/mo property income instead of your personal income.
Condo
Built in 1900
N/A 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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Listed by: Blake Bernard • REO-TCRandolph-233022
Mls Name: NGLRMLS
Mls ID: #1936619