510 E 3rd StElk RapidsMI49629
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 510 E 3rd St, Elk Rapids, MI, 49629 at $335,000 posts ROI 11.6% with from $1,441/mo rent. Total monthly income equals $1,441/mo. Return on cash invested measures 11.6% and rental yield reads 5.16% at the current $335,000. Equity gained on principal adds $2,162/yr, and 5% annual appreciation supports $92,554 by year five. Five-year ROI prints 58.87% and total cumulative return in cash totals $65,372. You can finance with Ziffy Mortgage’s DSCR loan, which relies on $1,441/mo property income rather than your personal income records (W2s, Paystubs, and Tax returns).
Single Family
Built in 1970
0.37 Acres 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jonathan Minerick • HomeCoin.com
Mls Name: MiRealSource
Mls Provider:
Mls ID: #50178384
Disclaimer: Source MLS: MiRealSource Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource. The information published and disseminated by MiRealSource is communicated verbatim, without change by MiRealSource, as filed with MiRealSource by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Copyright 2025 MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc. [Click here for more information](/mls-disclaimers/#261)