212 Nichols StCharlevoixMI49720
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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
Rental property for sale in Charlevoix at 212 Nichols St, Charlevoix, MI, 49720 priced at $679,000 converts $4,093/mo rent into after a $3,323/mo obligation. Total monthly income equals $4,093/mo. Return on cash invested prints 18% in year one, and rental yield reads 7.23% against a $679,000 entry. Equity gained on principal adds $4,381/yr, while 5% annual appreciation compiles into $187,595 by year five. Five-year ROI reaches 93.09% and total cumulative return in cash sums $207,947. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $4,093/mo property income covering a $3,323/mo payment, not borrower’s personal income.
Single Family
Built in N/A
10,454 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49720, Charlevoix, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,248 (100%) |
| Owner Occupied HU | 3,482 (55.7%) |
| Renter Occupied HU | 798 (12.8%) |
| Vacant Housing Units | 1,968 (31.5%) |
| Median Home Value | $298,267 |
| Average Home Value | $400,844 |
Housing Distribution
Address Breakdown
Residential
5,378
Single Family
4,848
Multi-Family
530
Businesses
504
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Listed by: Jason Fels • Coldwell Banker Schmidt- Harbor Springs
Mls Name: Northern Michigan MLS
Mls ID: #477287