545 Riverine DrTraverse 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
Rental property for sale in Traverse City at 545 Riverine Dr, Traverse City, MI, 49684 generates $2,772/mo in rent and, after a $1,713/mo payment, leaves $239/mo in cash flow. Total monthly income is $2,772/mo, and annual cash flow is $2,870/yr on $115,992 invested. Return on cash invested sits at 22.38% in year one, and rental yield is 9.51% on a $349,900 entry. Equity gained on principal adds $2,258/yr, while 5% annual appreciation builds toward $96,671 over five years. Five-year ROI reaches 117.51% and total cumulative return in cash sums $136,302. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,772/mo property income rather than buyer’s personal income.
Condo
Built in 1989
N/A lot
$N/A/sqft
$2,700 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: Dewayne Kirkman • REO-TCRandolph-233022
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1933892
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.