503 Cedar StElk RapidsMI49629
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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 Elk Rapids at 503 Cedar St, Elk Rapids, MI, 49629 listed at $270,000 pairs $2,264/mo rent with a $1,322/mo payment to leave $483/mo cash flow. Total monthly income runs $2,264/mo, and annual cash flow reaches $5,796/yr on $89,505 cash to close. Return on cash invested measures 26.38% in year one, and rental yield registers 10.06% at a $270,000 basis. Equity gained on principal adds $1,742/yr, and annual property appreciation at 5% supports $74,596 by year five. Five-year ROI tracks 138.08% and total cumulative return in cash totals $123,589. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,264/mo property income relative to a $1,322/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1960
9,147 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49629, Elk Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,708 (100%) |
| Owner Occupied HU | 899 (52.6%) |
| Renter Occupied HU | 151 ( 8.8%) |
| Vacant Housing Units | 658 (38.5%) |
| Median Home Value | $372,701 |
| Average Home Value | $458,910 |
Housing Distribution
Address Breakdown
Residential
1,157
Single Family
1,026
Multi-Family
131
Businesses
247
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Listed by: Leanne Deeren • REO-TCFront-233021
Mls Name: NGLRMLS
Mls ID: #1941049