1483 Castle DrPetoskeyMI49770
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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 Petoskey at 1483 Castle Dr, Petoskey, MI, 49770 offers a 9% rental yield on a $309,000 purchase with $2,317/mo rent. Total monthly income registers $2,317/mo, and a $1,512/mo payment leaves $116/mo available for distribution. Annual cash flow reaches $1,388/yr on $102,434 to close, and return on cash invested stands at 21.26% in year one. Equity gained on principal adds $1,994/yr while 5% annual appreciation supports $85,371 over five years. Portfolio math shows five-year ROI at 111.34% and total cumulative return in cash at $114,053. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,317/mo property income against a $1,512/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 2005
N/A lot
$N/A/sqft
$164 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49770, Petoskey, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,448 (100%) |
| Owner Occupied HU | 5,615 (53.7%) |
| Renter Occupied HU | 2,324 (22.2%) |
| Vacant Housing Units | 2,509 (24.0%) |
| Median Home Value | $336,183 |
| Average Home Value | $446,093 |
Housing Distribution
Address Breakdown
Residential
9,179
Single Family
8,003
Multi-Family
1,176
Businesses
1,216
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