241 E 9th StTraverse CityMI49684
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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 241 E 9th St, Traverse City, MI, 49684 priced at $389,000 converts $2,574/mo rent into $9/mo cash flow after a $1,904/mo obligation. Total monthly income equals $2,574/mo, and annual cash flow totals $104/yr on $128,954 invested. Return on cash invested prints 19.99% in year one, and rental yield reads 7.94% against a $389,000 entry. Equity gained on principal adds $2,510/yr, while 5% annual appreciation compiles into $107,474 by year five. Five-year ROI reaches 103.81% and total cumulative return in cash sums $133,866. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,574/mo property income covering a $1,904/mo payment, not borrower’s personal income.
Single Family
Built in 1905
3,920 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: Kian Culloty • Real Estate One - Gaylord
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1931907
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 2025 Northern Great Lakes REALTORS MLS. All Rights Reserved.