3305 Emily LnTraverse CityMI49686
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
Investment Highlights
Rental property for sale in Traverse City at 3305 Emily Ln, Traverse City, MI, 49686 priced at $245,000 converts $1,904/mo rent into $59/mo cash flow after a $1,199/mo obligation. Total monthly income equals $1,904/mo, and annual cash flow totals $702/yr on $81,218 invested. Return on cash invested prints 20.77% in year one, and rental yield reads 9.33% against a $245,000 entry. Equity gained on principal adds $1,581/yr, while 5% annual appreciation compiles into $67,689 by year five. Five-year ROI reaches 109.28% and total cumulative return in cash sums $88,752. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,904/mo property income covering a $1,199/mo payment, not borrower’s personal income.
Condo
Built in 1998
N/A lot
$N/A/sqft
$2,760 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49686, Traverse City, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,006 (100%) |
| Owner Occupied HU | 8,532 (60.9%) |
| Renter Occupied HU | 3,760 (26.8%) |
| Vacant Housing Units | 1,714 (12.2%) |
| Median Home Value | $375,817 |
| Average Home Value | $494,907 |
Housing Distribution
Address Breakdown
Residential
12,964
Single Family
12,118
Multi-Family
846
Businesses
1,436
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: T. J. Shimek • The Mitten Real Estate Group
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1932126
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.