29574 E Backamoe RdDrummond IslandMI49726
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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 Drummond Island at 29574 E Backamoe Rd, Drummond Island, MI, 49726 listed at $143,200 pairs $1,494/mo rent with a $701/mo payment to leave $550/mo cash flow. Total monthly income runs $1,494/mo, and annual cash flow reaches $6,595/yr on $47,471 cash to close. Return on cash invested measures 33.8% in year one, and rental yield registers 12.52% at a $143,200 basis. Equity gained on principal adds $924/yr, and annual property appreciation at 5% supports $39,564 by year five. Five-year ROI tracks 177.88% and total cumulative return in cash totals $84,439. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,494/mo property income relative to a $701/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Manufactured
Built in 1978
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49726, Drummond Island, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,575 (100%) |
| Owner Occupied HU | 449 (28.5%) |
| Renter Occupied HU | 53 ( 3.4%) |
| Vacant Housing Units | 1,073 (68.1%) |
| Median Home Value | $238,934 |
| Average Home Value | $276,765 |
Housing Distribution
Address Breakdown
Residential
731
Single Family
731
Multi-Family
0
Businesses
55
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Listed by: N/A • N/A
Mls Name: RMLS Multi-List
Mls Provider:
Mls ID: #558-24-0020