237 E Front StTraverse CityMI49684
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayThe investment thesis at 237 E Front St, Traverse City, MI, 49684 in Traverse City is capital appreciation. Rental yield 1.99%. The 1.99% gross yield at $1,595,000 falls below cash-flow thresholds, but 5% annual value growth is forecast to deliver $440,669 in additional equity by year five, an equity gain that can outpace many higher-yield markets. Ziffy Mortgage finances appreciation-play assets via DSCR (0.37) without U.S. credit history; structure with a larger down payment to optimise coverage. Total projected return: $100,780.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 2% | 6.0% |
| Monthly Cash Flow | $(7,876) | $500 |
City averages based on Traverse City market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,642 |
| Total Monthly Debt Service | $9,884 |
| DSCR Ratio | 0.27x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1890
N/A 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
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
Condo
Built in 1890
N/A 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jack Lane • REO-TCRandolph-233022
Mls Name: NGLRMLS
Mls ID: #1940156