1638 S Garfield AveTraverse 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
Rental property for sale in Traverse City at 1638 S Garfield Ave, Traverse City, MI, 49686 generates $2,561/mo in rent and, after a $1,199/mo payment, leaves $946/mo in cash flow. Total monthly income is $2,561/mo, and annual cash flow is $11,346/yr on $81,218 invested. Return on cash invested sits at 33.88% in year one, and rental yield is 12.54% on a $245,000 entry. Equity gained on principal adds $1,581/yr, while 5% annual appreciation builds toward $67,689 over five years. Five-year ROI reaches 178.31% and total cumulative return in cash sums $144,816. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,561/mo property income rather than buyer’s personal income.
Multi Family
Built in 1969
0.35 Acres lot
$N/A/sqft
No 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: Mark Hagan • Coldwell Banker Schmidt Traver
Mls Name: NGLRMLS
Mls ID: #1941571