2051 Hammond Pl ETraverse CityMI49686
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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 Traverse City at 2051 Hammond Pl E, Traverse City, MI, 49686 offers a 8.19% rental yield on a $350,000 purchase with $2,389/mo rent. Total monthly income registers $2,389/mo, and a $1,713/mo payment leaves $81/mo available for distribution. Annual cash flow reaches $972/yr on $116,025 to close, and return on cash invested stands at 20.75% in year one. Equity gained on principal adds $2,258/yr while 5% annual appreciation supports $96,699 over five years. Portfolio math shows five-year ROI at 107.85% and total cumulative return in cash at $125,138. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,389/mo property income against a $1,713/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1992
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
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Listed by: Chad Wirth • Epique Realty
Mls Name: NGLRMLS
Mls ID: #1939871