2832 W Shore Dr #CCentral LakeMI49622
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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 Central Lake at 2832 W Shore Dr #C, Central Lake, MI, 49622 earns from $1,955/mo rent with a $2,393/mo payment. Total monthly income totals $1,955/mo. ROI tracks 10.51% on current figures, and rental yield reads 4.8% at a $489,000 purchase. Equity gained on principal adds $3,155/yr, and 5% annual appreciation supports $135,102 over five years. Five-year ROI reaches 52.98% and total cumulative return in cash sums $85,882. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,955/mo property income instead of your personal income.
Condo
Built in 2003
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49622, Central Lake, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,880 (100%) |
| Owner Occupied HU | 1,007 (53.6%) |
| Renter Occupied HU | 187 ( 9.9%) |
| Vacant Housing Units | 686 (36.5%) |
| Median Home Value | $261,634 |
| Average Home Value | $390,742 |
Housing Distribution
Address Breakdown
Residential
1,117
Single Family
1,117
Multi-Family
0
Businesses
77
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Listed by: Gary Roberts • Pat O'Brien & Associates - Boyne City
Mls Name: Northern Michigan MLS
Mls Provider:
Mls ID: #475974
Disclaimer: Copyright Northern Michigan MLS (NM-MLSX). All rights reserved. Information is deemed reliable but not guaranteed.