615 Buckley StElk RapidsMI49629
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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 Elk Rapids at 615 Buckley St, Elk Rapids, MI, 49629 offers a 6.03% rental yield on a $390,000 purchase with $1,960/mo rent. 23% in year one. Equity gained on principal adds $2,517/yr while 5% annual appreciation supports $107,750 over five years. Portfolio math shows five-year ROI at 72.91% and total cumulative return in cash at $94,256. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,960/mo property income against a $1,909/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1950
0.35 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49629, Elk Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,708 (100%) |
| Owner Occupied HU | 899 (52.6%) |
| Renter Occupied HU | 151 ( 8.8%) |
| Vacant Housing Units | 658 (38.5%) |
| Median Home Value | $372,701 |
| Average Home Value | $458,910 |
Housing Distribution
Address Breakdown
Residential
1,157
Single Family
1,026
Multi-Family
131
Businesses
247
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Listed by: Scott Moore • EXIT Northern Shores Realty-ER
Mls Name: NGLRMLS
Mls ID: #1937968