225 Backus 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
Investment property for sale in Cheboygan at 225 Backus St, Cheboygan, MI, 49721 listed at $189,000 pairs $2,814/mo rent with a $925/mo payment to leave $1,568/mo cash flow. Total monthly income runs $2,814/mo, and annual cash flow reaches $18,812/yr on $62,654 cash to close. Return on cash invested measures 49.94% in year one, and rental yield registers 17.87% at a $189,000 basis. Equity gained on principal adds $1,220/yr, and annual property appreciation at 5% supports $52,217 by year five. Five-year ROI tracks 264.38% and total cumulative return in cash totals $165,646. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,814/mo property income relative to a $925/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Multi Family
Built in N/A
4,800 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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Nearby investment properties with comparable prices
Listed by: Missy Koszegi • COLDWELL BANKER SCHMIDT CHEBOYGAN
Mls Name: WWMLS
Mls Provider:
Mls ID: #201831259
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