1542 Simsbury St #10Traverse CityMI49686
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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
Total monthly income runs $2,023/mo, and a $1,713/mo payment. Purchase price stands at $349,900, and rental yield measures 6.94% with $2,023/mo rent. Return on cash invested shows 13.03% in year one, and 5% annual appreciation builds toward $96,671 over five years. Five-year ROI reaches 67.89% and total cumulative return in cash records $78,750. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,023/mo property income covering a $1,713/mo payment rather than investor’s personal income.
Condo
Built in 2024
N/A lot
$N/A/sqft
$4,566 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49686, Traverse City, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,006 (100%) |
| Owner Occupied HU | 8,532 (60.9%) |
| Renter Occupied HU | 3,760 (26.8%) |
| Vacant Housing Units | 1,714 (12.2%) |
| Median Home Value | $375,817 |
| Average Home Value | $494,907 |
Housing Distribution
Address Breakdown
Residential
12,964
Single Family
12,118
Multi-Family
846
Businesses
1,436
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Listed by: Tia Rieck • Coldwell Banker Schmidt Traverse City
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1924673
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.