2111 Summerfield LnTraverse 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
Rental property for sale in Traverse City at 2111 Summerfield Ln, Traverse City, MI, 49686 priced at $106,500 converts $3,181/mo rent into $1,799/mo cash flow after a $521/mo obligation. Total monthly income equals $3,181/mo, and annual cash flow totals $21,587/yr on $35,305 invested. Return on cash invested prints 81.05% in year one, and rental yield reads 35.84% against a $106,500 entry. Equity gained on principal adds $687/yr, while 5% annual appreciation compiles into $29,424 by year five. Five-year ROI reaches 439.64% and total cumulative return in cash sums $155,213. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,181/mo property income covering a $521/mo payment, not borrower’s personal income.
Manufactured
Built in 2019
N/A lot
$N/A/sqft
$8,160 annually 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: Jake Bishop • REMAX Of Elk Rapids
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1926243
Disclaimer: The information in this listing was gathered from third-party sources including the seller. Northern Great Lakes REALTORS MLS and its subscribers disclaim any and all representations or warranties as to the accuracy of this information. Copyright 2024 Northern Great Lakes REALTORS MLS. All Rights Reserved.