2164 Chelsea LnTraverse CityMI49685
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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 Traverse City at 2164 Chelsea Ln, Traverse City, MI, 49685 offers $3,598/mo rent that, after a $3,549/mo payment. Total monthly income is $3,598/mo. Return on cash invested measures 12.97% in year one, and rental yield stands at 5.96% at a $725,000 entry. Equity gained on principal adds $4,678/yr while 5% annual appreciation compounds into $200,304 by year five. Five-year ROI records 66.57% and total cumulative return in cash reaches $158,789. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $3,598/mo property income versus a $3,549/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Condo
Built in 2019
N/A lot
$N/A/sqft
$2,700 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49685, Traverse City, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,512 (100%) |
| Owner Occupied HU | 6,995 (73.5%) |
| Renter Occupied HU | 1,772 (18.6%) |
| Vacant Housing Units | 745 ( 7.8%) |
| Median Home Value | $362,492 |
| Average Home Value | $413,680 |
Housing Distribution
Address Breakdown
Residential
9,147
Single Family
8,029
Multi-Family
1,118
Businesses
850
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Listed by: Ann Porter • REO-TCRandolph-233022
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1928768
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.