176 Long Rapids RdAlpenaMI49707
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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 Alpena at 176 Long Rapids Rd, Alpena, MI, 49707 generates $2,674/mo in rent and, after a $1,884/mo payment, leaves $136/mo in cash flow. Total monthly income is $2,674/mo, and annual cash flow is $1,626/yr on $127,628 invested. Return on cash invested sits at 21.18% in year one, and rental yield is 8.33% on a $385,000 entry. Equity gained on principal adds $2,484/yr, while 5% annual appreciation builds toward $106,368 over five years. Five-year ROI reaches 110.21% and total cumulative return in cash sums $140,662. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,674/mo property income rather than buyer’s personal income.
Condo
Built in 1988
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49707, Alpena, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,788 (100%) |
| Owner Occupied HU | 7,776 (66.0%) |
| Renter Occupied HU | 2,265 (19.2%) |
| Vacant Housing Units | 1,747 (14.8%) |
| Median Home Value | $150,147 |
| Average Home Value | $189,050 |
Housing Distribution
Address Breakdown
Residential
10,775
Single Family
10,102
Multi-Family
673
Businesses
1,047
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