230 S Elmwood AveTraverse CityMI49684
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
Investment property for sale in Traverse City at 230 S Elmwood Ave, Traverse City, MI, 49684 at $638,000 posts ROI 27.95% with $1,380/mo cash flow from $5,588/mo rent. Total monthly income equals $5,588/mo, and annual cash flow records $16,565/yr on $209,902 to close. Return on cash invested measures 27.95% and rental yield reads 10.51% at the current $638,000. Equity gained on principal adds $4,117/yr, and 5% annual appreciation supports $176,268 by year five. Five-year ROI prints 146.49% and total cumulative return in cash totals $307,478.
You can finance with Ziffy Mortgage’s DSCR loan, which relies on $5,588/mo property income rather than your personal income records (W2s, Paystubs, and Tax returns).
Single Family
Built in 1940
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49684, Traverse City, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,302 (100%) |
| Owner Occupied HU | 7,484 (60.8%) |
| Renter Occupied HU | 3,386 (27.5%) |
| Vacant Housing Units | 1,432 (11.6%) |
| Median Home Value | $398,218 |
| Average Home Value | $509,057 |
Housing Distribution
Address Breakdown
Residential
11,586
Single Family
9,750
Multi-Family
1,836
Businesses
1,955
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Listed by: Bj Brick • REMAX Bayshore - W Bay Shore Dr TC
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1925375
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.