515 Michigan 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
Investment property for sale in Charlevoix at 515 Michigan Ave, Charlevoix, MI, 49720 projects strong ROI of 3.24%. Rental yield 2.36%. With 5% annual appreciation, the property builds $2,196,438 in value over five years. Equity growth combined delivers a projected five-year ROI of 13.91%, translating into $358,274 in total cumulative return on $2,575,800 invested capital. You can finance this property with Ziffy Mortgage’s DSCR loan, which leverages the property’s income for qualification rather than your personal income.
Single Family
Built in N/A
1.63 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
Nearby investment properties with comparable rents
No similar rental properties found nearby.
Nearby investment properties with comparable prices
Listed by: John Murray • Berkshire Hathaway HomeServices Real Estate
Mls Name: Northern Michigan MLS
Mls Provider:
Mls ID: #473838
Disclaimer: Copyright Northern Michigan MLS (NM-MLSX). All rights reserved. Information is deemed reliable but not guaranteed.