204 1st 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 204 1st St, Elk Rapids, MI, 49629 with 5% annual appreciation on a $389,900 basis while $2,237/mo rent supports operations. 81% in year one. Equity gained on principal adds $2,516/yr, and five-year appreciation sums $107,722 alongside rental yield of 6.88%. Five-year ROI measures 86.77% and total cumulative return in cash totals $112,153. Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $2,237/mo property income versus a $1,908/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Single Family
Built in 1970
N/A 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: Tom Wiltse • Up North Properties
Mls Name: Northern Michigan MLS
Mls Provider:
Mls ID: #475967
Disclaimer: Copyright Northern Michigan MLS (NM-MLSX). All rights reserved. Information is deemed reliable but not guaranteed.