261 Thrive Blvd UNIT 3Traverse CityMI49696
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors targeting immediate dollar income will find 261 Thrive Blvd UNIT 3, Traverse City, MI, 49696 in Traverse City hard to pass up. The 11.49% gross yield on a $304,000 purchase results in $2,910/mo in rent and $680/mo in net cash, well above the spread required for Ziffy Mortgage's DSCR qualification (2.13). Annual cash flow of $8,163, five-year appreciation of $83,990, and $2,800/yr in equity build-up combine for a projected total cumulative return of $160,594.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.5% | 6.0% |
| Monthly Cash Flow | $680 | $500 |
City averages based on Traverse City market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,910 |
| Total Monthly Debt Service | $2,109 |
| DSCR Ratio | 1.38x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 2024
N/A lot
$N/A/sqft
$2,700 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49696, Traverse City, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,804 (100%) |
| Owner Occupied HU | 3,505 (73.0%) |
| Renter Occupied HU | 631 (13.1%) |
| Vacant Housing Units | 668 (13.9%) |
| Median Home Value | $370,334 |
| Average Home Value | $476,598 |
Housing Distribution
Address Breakdown
Residential
4,328
Single Family
4,327
Multi-Family
1
Businesses
438
Nearby investment properties with comparable rents
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 2024
N/A lot
$N/A/sqft
$2,700 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49696, Traverse City, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,804 (100%) |
| Owner Occupied HU | 3,505 (73.0%) |
| Renter Occupied HU | 631 (13.1%) |
| Vacant Housing Units | 668 (13.9%) |
| Median Home Value | $370,334 |
| Average Home Value | $476,598 |
Housing Distribution
Address Breakdown
Residential
4,328
Single Family
4,327
Multi-Family
1
Businesses
438
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: T. J. Shimek • The Mitten Real Estate Group
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1930780
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.