502 S Huron StCheboyganMI49721
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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 Cheboygan at 502 S Huron St, Cheboygan, MI, 49721 priced at $325,000 converts $2,914/mo rent into $771/mo cash flow after a $1,591/mo obligation. Total monthly income equals $2,914/mo, and annual cash flow totals $9,246/yr on $107,738 invested. Return on cash invested prints 28.49% in year one, and rental yield reads 10.76% against a $325,000 entry. Equity gained on principal adds $2,097/yr, while 5% annual appreciation compiles into $89,792 by year five. Five-year ROI reaches 149.42% and total cumulative return in cash sums $160,981. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,914/mo property income covering a $1,591/mo payment, not borrower’s personal income.
Single Family
Built in 1930
0.40 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49721, Cheboygan, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,028 (100%) |
| Owner Occupied HU | 5,139 (56.9%) |
| Renter Occupied HU | 1,234 (13.7%) |
| Vacant Housing Units | 2,655 (29.4%) |
| Median Home Value | $222,067 |
| Average Home Value | $297,208 |
Housing Distribution
Address Breakdown
Residential
7,068
Single Family
6,759
Multi-Family
309
Businesses
534
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