214 E State StCheboyganMI49721
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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 Cheboygan at 214 E State St, Cheboygan, MI, 49721 offers $1,363/mo rent that, after a $842/mo payment, leaves $229/mo cash flow. Total monthly income is $1,363/mo, and annual cash flow is $2,743/yr on $57,018 cash. Return on cash invested measures 24.72% in year one, and rental yield stands at 9.51% at a $172,000 entry. Equity gained on principal adds $1,110/yr while 5% annual appreciation compounds into $47,520 by year five. Five-year ROI records 129.2% and total cumulative return in cash reaches $73,669. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,363/mo property income versus a $842/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in N/A
5,227 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49721, Cheboygan, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,028 (100%) |
| Owner Occupied HU | 5,139 (56.9%) |
| Renter Occupied HU | 1,234 (13.7%) |
| Vacant Housing Units | 2,655 (29.4%) |
| Median Home Value | $222,067 |
| Average Home Value | $297,208 |
Housing Distribution
Address Breakdown
Residential
7,068
Single Family
6,759
Multi-Family
309
Businesses
534
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