309 Golfview Ln #28Elk RapidsMI49629
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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
Total monthly income runs $2,398/mo, and a $2,105/mo payment. Purchase price stands at $430,000, and rental yield measures 6.69% with $2,398/mo rent. Return on cash invested shows 12.85% in year one, and 5% annual appreciation builds toward $118,801 over five years. Five-year ROI reaches 66.76% and total cumulative return in cash records $95,163. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,398/mo property income covering a $2,105/mo payment rather than investor’s personal income.
Condo
Built in 2000
N/A lot
$N/A/sqft
$4,800 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49629, Elk Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,708 (100%) |
| Owner Occupied HU | 899 (52.6%) |
| Renter Occupied HU | 151 ( 8.8%) |
| Vacant Housing Units | 658 (38.5%) |
| Median Home Value | $372,701 |
| Average Home Value | $458,910 |
Housing Distribution
Address Breakdown
Residential
1,157
Single Family
1,026
Multi-Family
131
Businesses
247
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Listed by: Wayne Toteff • REO - Elk Rapids-101308
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1939330
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.