603 Second StTraverse 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 603 Second St, Traverse City, MI, 49684 offers $3,928/mo rent that, after a $2,163/mo payment, leaves $1,014/mo cash flow. Total monthly income is $3,928/mo, and annual cash flow is $12,163/yr on $146,523 cash. Return on cash invested measures 28.21% in year one, and rental yield stands at 10.66% at a $442,000 entry. Equity gained on principal adds $2,852/yr while 5% annual appreciation compounds into $122,116 by year five. Five-year ROI records 147.89% and total cumulative return in cash reaches $216,686. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $3,928/mo property income versus a $2,163/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1896
3,484 sqft lot
$N/A/sqft
No 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: Jay Sluiter • REO-TCRandolph-233022
Mls Name: NGLRMLS
Mls ID: #1932216