4249 Mitchell Creek DrTraverse CityMI49686
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe income profile at 4249 Mitchell Creek Dr, Traverse City, MI, 49686 in Traverse City is straightforward: $217,500 in, $1,866/mo in rent, $432/mo out after debt service. The 10.3% gross yield and 1.91 DSCR make this exactly the kind of asset Ziffy Mortgage finances for non-U.S. residents without income documentation. Appreciation at 5%/yr adds $60,091 by year five. With $2,003/yr in principal equity, the total cumulative return is projected at $110,673.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.3% | 6.0% |
| Monthly Cash Flow | $432 | $500 |
City averages based on Traverse City market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,866 |
| Total Monthly Debt Service | $1,348 |
| DSCR Ratio | 1.38x |
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 1985
N/A lot
$N/A/sqft
No 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
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 1985
N/A lot
$N/A/sqft
No 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: Shelly Brunette • REO-TCRandolph-233022
Mls Name: NGLRMLS
Mls ID: #1937873