540 W Lake St APT 8Tawas CityMI48763
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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 Tawas City at 540 W Lake St APT 8, Tawas City, MI, 48763 uses $99,119 cash to close to unlock $1,352/yr annual cash flow and $113/mo monthly cash flow. Total monthly income runs $2,286/mo, and a $1,463/mo payment keeps the spread at $113/mo. Purchase price stands at $299,000, and rental yield measures 9.17% with $2,286/mo rent. Return on cash invested shows 21.27% in year one, and 5% annual appreciation builds toward $82,608 over five years. Five-year ROI reaches 111.59% and total cumulative return in cash records $110,602. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,286/mo property income covering a $1,463/mo payment rather than investor’s personal income.
Condo
Built in 2008
N/A lot
$N/A/sqft
$2,424 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48763, Tawas City, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,192 (100%) |
| Owner Occupied HU | 1,972 (61.8%) |
| Renter Occupied HU | 328 (10.3%) |
| Vacant Housing Units | 892 (27.9%) |
| Median Home Value | $173,474 |
| Average Home Value | $219,190 |
Housing Distribution
Address Breakdown
Residential
2,356
Single Family
2,356
Multi-Family
0
Businesses
135
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Listed by: Carol Westcott • STERLING PROPERTIES
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1924710
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 2024 Northern Great Lakes REALTORS MLS. All Rights Reserved.