3603 W Lake Mitchell DrCadillacMI49601
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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
Investment property for sale in Cadillac at 3603 W Lake Mitchell Dr, Cadillac, MI, 49601 offers a 5.29% rental yield on a $550,000 purchase with $2,424/mo rent. 08% in year one. Equity gained on principal adds $3,549/yr while 5% annual appreciation supports $151,955 over five years. Portfolio math shows five-year ROI at 61.37% and total cumulative return in cash at $111,058. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,424/mo property income against a $2,692/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1940
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49601, Cadillac, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,792 (100%) |
| Owner Occupied HU | 6,921 (64.1%) |
| Renter Occupied HU | 2,336 (21.6%) |
| Vacant Housing Units | 1,535 (14.2%) |
| Median Home Value | $181,348 |
| Average Home Value | $216,653 |
Housing Distribution
Address Breakdown
Residential
9,540
Single Family
9,123
Multi-Family
417
Businesses
1,025
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Listed by: Jaimie Fellows-Garno • City2Shore Real Estate Northern Michigan
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1932619
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.