2973 E Crown DrTraverse CityMI49685
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe cash-flow margin at 2973 E Crown Dr, Traverse City, MI, 49685 in Traverse City is narrow, $129/mo net on $4,337/mo rent after the $2,631/mo debt service, but the property operates at break-even-plus, not a loss. At $585,000 with a 8.9% yield, the long-run equity case via 5% appreciation ($161,625 over five years) and $5,388/yr in principal paydown is where the returns accumulate. Ziffy Mortgage's 1.65 DSCR loan requires no W-2s or U.S. credit. Total projected cumulative return: $232,695.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.9% | 6.0% |
| Monthly Cash Flow | $129 | $500 |
City averages based on Traverse City market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $4,337 |
| Total Monthly Debt Service | $3,975 |
| DSCR Ratio | 1.09x |
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 1998
5,227 sqft lot
$N/A/sqft
$350 monthly 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
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 1998
5,227 sqft lot
$N/A/sqft
$350 monthly 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices