507 W Garfield AveCharlevoixMI49720
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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 Charlevoix at 507 W Garfield Ave, Charlevoix, MI, 49720 offers $2,662/mo rent that, after a $757/mo payment, leaves $1,642/mo cash flow. Total monthly income is $2,662/mo, and annual cash flow is $19,706/yr on $51,250 cash. Return on cash invested measures 58.36% in year one, and rental yield stands at 20.66% at a $154,600 entry. Equity gained on principal adds $998/yr while 5% annual appreciation compounds into $42,713 by year five. Five-year ROI records 309.66% and total cumulative return in cash reaches $158,698. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,662/mo property income versus a $757/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in N/A
0.45 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49720, Charlevoix, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,248 (100%) |
| Owner Occupied HU | 3,482 (55.7%) |
| Renter Occupied HU | 798 (12.8%) |
| Vacant Housing Units | 1,968 (31.5%) |
| Median Home Value | $298,267 |
| Average Home Value | $400,844 |
Housing Distribution
Address Breakdown
Residential
5,378
Single Family
4,848
Multi-Family
530
Businesses
504
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Nearby investment properties with comparable prices
Listed by: N/A • N/A
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Mls ID: #N/A