2488 Cadotte Ave #1Mackinac IslandMI49757
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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 Mackinac Island at 2488 Cadotte Ave #1, Mackinac Island, MI, 49757 listed at $550,000 pairs $0/mo rent with a $2,692/mo payment. Total monthly income runs $0/mo. Return on cash invested measures -3.99% in year one, and rental yield registers 0% at a $550,000 basis. Equity gained on principal adds $3,549/yr, and annual property appreciation at 5% supports $151,955 by year five. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $0/mo property income relative to a $2,692/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 1996
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49757, Mackinac Island, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 978 (100%) |
| Owner Occupied HU | 179 (18.3%) |
| Renter Occupied HU | 116 (11.9%) |
| Vacant Housing Units | 683 (69.8%) |
| Median Home Value | $602,273 |
| Average Home Value | $700,140 |
Housing Distribution
Address Breakdown
Residential
1
Single Family
1
Multi-Family
0
Businesses
137
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No similar rental properties found nearby.
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Listed by: Kelly Rayment • Mackinac Island Realty, Inc
Mls Name: RMLS Multi-List
Mls ID: #522-24-0006