1638 S Garfield AveTraverse CityMI49686
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash Flow1638 S Garfield Ave, Traverse City, MI, 49686 in Traverse City earns its strong cash-flow label: 12.54% yield, $2,561/mo rent, $945/mo net income, DSCR 2.32. The $245,000 acquisition cost produces immediate returns that put this property in the top tier for U.S. income assets accessible via Ziffy Mortgage's rental-income underwriting. Long-term, 5% annual appreciation adds $67,689 by year five. Combined with $2,256/yr in principal paydown, total projected return reaches $154,168.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 12.5% | 6.0% |
| Monthly Cash Flow | $945 | $500 |
City averages based on Traverse City market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,561 |
| Total Monthly Debt Service | $1,518 |
| DSCR Ratio | 1.69x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Mark Hagan • Coldwell Banker Schmidt Traver
Mls Name: NGLRMLS
Mls ID: #1941571