203 W 2nd StElk RapidsMI49629
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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 Elk Rapids at 203 W 2nd St, Elk Rapids, MI, 49629 earns from $2,549/mo rent with a $2,447/mo payment. Total monthly income totals $2,549/mo. ROI tracks 14.49% on current figures, and rental yield reads 6.12% at a $500,000 purchase. Equity gained on principal adds $3,226/yr, and 5% annual appreciation supports $138,141 over five years. Five-year ROI reaches 74.32% and total cumulative return in cash sums $123,188. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,549/mo property income instead of your personal income.
Single Family
Built in 2018
9,147 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49629, Elk Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,708 (100%) |
| Owner Occupied HU | 899 (52.6%) |
| Renter Occupied HU | 151 ( 8.8%) |
| Vacant Housing Units | 658 (38.5%) |
| Median Home Value | $372,701 |
| Average Home Value | $458,910 |
Housing Distribution
Address Breakdown
Residential
1,157
Single Family
1,026
Multi-Family
131
Businesses
247
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Listed by: N/A • N/A
Mls Name: Berkshire Hathaway HomeServices Michigan and Northern Indiana Real Estate
Mls ID: #1933904