2823 E Ironwood DrTraverse CityMI49685
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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 Traverse City at 2823 E Ironwood Dr, Traverse City, MI, 49685 with 5% annual appreciation on a $265,000 basis while $1,787/mo rent supports operations. Total monthly income totals $1,787/mo and a $1,297/mo payment preserves $40/mo for cash returns. Annual cash flow comes to $474/yr on $87,848 deployed, and return on cash invested reaches 20.45% in year one. Equity gained on principal adds $1,710/yr, and five-year appreciation sums $73,215 alongside rental yield of 8.09%. Five-year ROI measures 106.29% and total cumulative return in cash totals $93,375.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $1,787/mo property income versus a $1,297/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Manufactured
Built in 1983
0.31 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49685, Traverse City, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,512 (100%) |
| Owner Occupied HU | 6,995 (73.5%) |
| Renter Occupied HU | 1,772 (18.6%) |
| Vacant Housing Units | 745 ( 7.8%) |
| Median Home Value | $362,492 |
| Average Home Value | $413,680 |
Housing Distribution
Address Breakdown
Residential
9,147
Single Family
8,029
Multi-Family
1,118
Businesses
850
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Listed by: Nan Ray • century 21 northland
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1932605
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.