605 3rd St APT 9Traverse 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
Investment property for sale in Traverse City at 605 3rd St APT 9, Traverse City, MI, 49684 earns $321/mo cash flow from $2,629/mo rent with a $1,713/mo payment. Total monthly income totals $2,629/mo, and annual cash flow totals $3,852/yr on $116,025 capital. ROI tracks 23.23% on current figures, and rental yield reads 9.01% at a $350,000 purchase. Equity gained on principal adds $2,258/yr, and 5% annual appreciation supports $96,699 over five years. Five-year ROI reaches 121.17% and total cumulative return in cash sums $140,582. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,629/mo property income instead of your personal income.
Condo
Built in 1979
N/A 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: Michael Annelin • CENTURY 21 Northland
Mls Name: NGLRMLS
Mls ID: #1937330