457 Garfield Rd NTraverse CityMI49696
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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
Rental property for sale in Traverse City at 457 Garfield Rd N, Traverse City, MI, 49696 priced at $355,000 converts $2,551/mo rent into $210/mo cash flow after a $1,738/mo obligation. Total monthly income equals $2,551/mo, and annual cash flow totals $2,514/yr on $117,683 invested. Return on cash invested prints 22.05% in year one, and rental yield reads 8.62% against a $355,000 entry. Equity gained on principal adds $2,291/yr, while 5% annual appreciation compiles into $98,080 by year five. Five-year ROI reaches 114.84% and total cumulative return in cash sums $135,144. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,551/mo property income covering a $1,738/mo payment, not borrower’s personal income.
Manufactured
Built in 2000
4.83 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49696, Traverse City, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,804 (100%) |
| Owner Occupied HU | 3,505 (73.0%) |
| Renter Occupied HU | 631 (13.1%) |
| Vacant Housing Units | 668 (13.9%) |
| Median Home Value | $370,334 |
| Average Home Value | $476,598 |
Housing Distribution
Address Breakdown
Residential
4,328
Single Family
4,327
Multi-Family
1
Businesses
438
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Listed by: Lynette Priest • REO-TCRandolph-233022
Mls Name: NGLRMLS
Mls ID: #1935944