2488 Cadotte Ave #1Mackinac IslandMI49757
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayAt a 0% gross rental yield, 2488 Cadotte Ave #1, Mackinac Island, MI, 49757 in Mackinac Island is priced for capital growth, not immediate cash flow. The $550,000 purchase reflects market confidence in future value: at 5%/yr, the property is forecast to gain $151,955 by year five, with $5,066/yr in additional equity from loan paydown. Ziffy Mortgage's DSCR mortgage (0.00) qualifies for non-U.S. residents without personal income documents.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 0% | 6.5% |
| Monthly Cash Flow | $0 | $450 |
City averages based on Mackinac Island market data in our database. Property projections are estimates.
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
Nearby investment properties with comparable rents
No similar rental properties found nearby.
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 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
Nearby investment properties with comparable rents
No similar rental properties found nearby.
Nearby investment properties with comparable prices
Listed by: Kelly Rayment • Mackinac Island Realty, Inc
Mls Name: RMLS Multi-List
Mls ID: #522-24-0006