2035 N Us Highway 31 N UNIT 505Traverse CityMI49686
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
Investment Highlights
Investment property for sale in Traverse City at 2035 N Us Highway 31 N UNIT 505, Traverse City, MI, 49686 uses $33,150 cash to close to unlock $1,584/yr annual cash flow and $132/mo monthly cash flow. Total monthly income runs $791/mo, and a $489/mo payment keeps the spread at $132/mo. Purchase price stands at $100,000, and rental yield measures 9.49% with $791/mo rent. Return on cash invested shows 24.69% in year one, and 5% annual appreciation builds toward $27,628 over five years. Five-year ROI reaches 128.99% and total cumulative return in cash records $42,760. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $791/mo property income covering a $489/mo payment rather than investor’s personal income.
Condo
Built in 2006
N/A 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: Andrew Stireman • Coldwell Banker Schmidt Traver
Mls Name: NGLRMLS
Mls ID: #1932164