2488 Cadotte AveMackinac 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
Rental property for sale in Mackinac Island at 2488 Cadotte Ave, Mackinac Island, MI, 49757 generates $1,678/mo in rent, after a $1,572/mo payment. Total monthly income is $1,678/mo. Return on cash invested sits at 14.95% in year one, and rental yield is 6.27% on a $321,100 entry. Equity gained on principal adds $2,072/yr, while 5% annual appreciation builds toward $88,714 over five years. Five-year ROI reaches 76.83% and total cumulative return in cash sums $81,780. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,678/mo property income rather than buyer’s personal income.
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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Listed by: N/A • N/A
Mls Name: RMLS Multi-List
Mls Provider:
Mls ID: #522-24-0006