524 State StPetoskeyMI49770
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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 Petoskey at 524 State St, Petoskey, MI, 49770 priced at $850,000 converts $1,349/mo rent into after a $4,160/mo obligation. Total monthly income equals $1,349/mo. Return on cash invested prints 1.8% in year one, and rental yield reads 1.9% against a $850,000 entry. Equity gained on principal adds $5,485/yr, while 5% annual appreciation compiles into $234,839 by year five. Five-year ROI reaches 6.21% and total cumulative return in cash sums $17,374. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,349/mo property income covering a $4,160/mo payment, not borrower’s personal income.
Multi Family
Built in 1900
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49770, Petoskey, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,448 (100%) |
| Owner Occupied HU | 5,615 (53.7%) |
| Renter Occupied HU | 2,324 (22.2%) |
| Vacant Housing Units | 2,509 (24.0%) |
| Median Home Value | $336,183 |
| Average Home Value | $446,093 |
Housing Distribution
Address Breakdown
Residential
9,179
Single Family
8,003
Multi-Family
1,176
Businesses
1,216
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