2877 Ruby StTraverse CityMI49684
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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 2877 Ruby St, Traverse City, MI, 49684 uses $155,805 cash to close to unlock $40,800/yr annual cash flow and $3,400/mo monthly cash flow. Total monthly income runs $6,774/mo, and a $2,300/mo payment keeps the spread at $3,400/mo. Purchase price stands at $470,000, and rental yield measures 17.3% with $6,774/mo rent. Return on cash invested shows 46.1% in year one, and 5% annual appreciation builds toward $129,852 over five years. Five-year ROI reaches 244.54% and total cumulative return in cash records $381,009. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $6,774/mo property income covering a $2,300/mo payment rather than investor’s personal income.
Condo
Built in 2006
N/A lot
$N/A/sqft
$3,300 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49684, Traverse City, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,302 (100%) |
| Owner Occupied HU | 7,484 (60.8%) |
| Renter Occupied HU | 3,386 (27.5%) |
| Vacant Housing Units | 1,432 (11.6%) |
| Median Home Value | $398,218 |
| Average Home Value | $509,057 |
Housing Distribution
Address Breakdown
Residential
11,586
Single Family
9,750
Multi-Family
1,836
Businesses
1,955
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Listed by: Michael Mitchell • REO-TCRandolph-233022
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1926970
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 2024 Northern Great Lakes REALTORS MLS. All Rights Reserved.