337 State StBoyne CityMI49712
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 Boyne City at 337 State St, Boyne City, MI, 49712 priced at $469,000 converts $5,702/mo rent into $2,609/mo cash flow after a $2,296/mo obligation. Total monthly income equals $5,702/mo, and annual cash flow totals $31,304/yr on $155,474 invested. Return on cash invested prints 40.04% in year one, and rental yield reads 14.59% against a $469,000 entry. Equity gained on principal adds $3,026/yr, while 5% annual appreciation compiles into $129,576 by year five. Five-year ROI reaches 211.35% and total cumulative return in cash sums $328,591. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $5,702/mo property income covering a $2,296/mo payment, not borrower’s personal income.
Multi Family
Built in 1978
0.33 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49712, Boyne City, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,368 (100%) |
| Owner Occupied HU | 2,983 (55.6%) |
| Renter Occupied HU | 671 (12.5%) |
| Vacant Housing Units | 1,714 (31.9%) |
| Median Home Value | $299,918 |
| Average Home Value | $392,153 |
Housing Distribution
Address Breakdown
Residential
4,159
Single Family
3,938
Multi-Family
221
Businesses
346
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Listed by: Kevin Query • Three West, LLC
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1927062
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.