470 Hemlock StBoyne CityMI49712
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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
Investment property for sale in Boyne City at 470 Hemlock St, Boyne City, MI, 49712 listed at $409,500 pairs $2,828/mo rent with a $2,004/mo payment to leave $128/mo cash flow. Total monthly income runs $2,828/mo, and annual cash flow reaches $1,534/yr on $135,749 cash to close. Return on cash invested measures 21.04% in year one, and rental yield registers 8.29% at a $409,500 basis. Equity gained on principal adds $2,642/yr, and annual property appreciation at 5% supports $113,137 by year five. Five-year ROI tracks 109.42% and total cumulative return in cash totals $148,534. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,828/mo property income relative to a $2,004/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1963
0.40 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: Lynda Christensen • Lynda's Real Estate Service
Mls Name: Northern Michigan MLS
Mls ID: #477015