515 Georgetown Dr APT 56Traverse CityMI49684
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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 Traverse City at 515 Georgetown Dr APT 56, Traverse City, MI, 49684 listed at $218,750 pairs $2,216/mo rent with a $1,071/mo payment to leave $503/mo cash flow. Total monthly income runs $2,216/mo, and annual cash flow reaches $6,037/yr on $72,516 cash to close. Return on cash invested measures 28.23% in year one, and rental yield registers 12.16% at a $218,750 basis. Equity gained on principal adds $1,412/yr, and annual property appreciation at 5% supports $60,437 by year five. Five-year ROI tracks 149.71% and total cumulative return in cash totals $108,567. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,216/mo property income relative to a $1,071/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 1985
N/A lot
$N/A/sqft
$3,240 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49684, Traverse City, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,302 (100%) |
| Owner Occupied HU | 7,484 (60.8%) |
| Renter Occupied HU | 3,386 (27.5%) |
| Vacant Housing Units | 1,432 (11.6%) |
| Median Home Value | $398,218 |
| Average Home Value | $509,057 |
Housing Distribution
Address Breakdown
Residential
11,586
Single Family
9,750
Multi-Family
1,836
Businesses
1,955
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Listed by: Meghan Zammit • CENTURY 21 Northland
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1934924
Disclaimer: The information in this listing was gathered from third-party sources including the seller. Northern Great Lakes REALTORS MLS and its subscribers disclaim any and all representations or warranties as to the accuracy of this information. Copyright 2025 Northern Great Lakes REALTORS MLS. All Rights Reserved.