526 N Lake St LOT 31Boyne CityMI49712
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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 Boyne City at 526 N Lake St LOT 31, Boyne City, MI, 49712 uses $36,465 cash to close to unlock $1,656/yr annual cash flow and $138/mo monthly cash flow. Total monthly income runs $863/mo, and a $538/mo payment keeps the spread at $138/mo. Purchase price stands at $110,000, and rental yield measures 9.41% with $863/mo rent. Return on cash invested shows 24.45% in year one, and 5% annual appreciation builds toward $30,391 over five years. Five-year ROI reaches 127.68% and total cumulative return in cash records $46,560. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $863/mo property income covering a $538/mo payment rather than investor’s personal income.
Single Family
Built in 1988
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49712, Boyne City, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,368 (100%) |
| Owner Occupied HU | 2,983 (55.6%) |
| Renter Occupied HU | 671 (12.5%) |
| Vacant Housing Units | 1,714 (31.9%) |
| Median Home Value | $299,918 |
| Average Home Value | $392,153 |
Housing Distribution
Address Breakdown
Residential
4,159
Single Family
3,938
Multi-Family
221
Businesses
346
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Listed by: Christopher Christensen • Lynda's Real Estate Service
Mls Name: Northern Michigan MLS
Mls Provider:
Mls ID: #476310
Disclaimer: Copyright Northern Michigan MLS (NM-MLSX). All rights reserved. Information is deemed reliable but not guaranteed.