246 Peninsula Hills DrTraverse CityMI49686
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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 246 Peninsula Hills Dr, Traverse City, MI, 49686 priced at $499,900 converts $2,909/mo rent into after a $2,447/mo obligation. Total monthly income equals $2,909/mo. Return on cash invested prints 17.1% in year one, and rental yield reads 6.98% against a $499,900 entry. Equity gained on principal adds $3,226/yr, while 5% annual appreciation compiles into $138,113 by year five. Five-year ROI reaches 88.33% and total cumulative return in cash sums $146,376. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,909/mo property income covering a $2,447/mo payment, not borrower’s personal income.
Condo
Built in 1971
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49686, Traverse City, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,006 (100%) |
| Owner Occupied HU | 8,532 (60.9%) |
| Renter Occupied HU | 3,760 (26.8%) |
| Vacant Housing Units | 1,714 (12.2%) |
| Median Home Value | $375,817 |
| Average Home Value | $494,907 |
Housing Distribution
Address Breakdown
Residential
12,964
Single Family
12,118
Multi-Family
846
Businesses
1,436
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Listed by: Claire Washington • REMAX Bayshore - Union St TC
Mls Name: NGLRMLS
Mls ID: #1940392