615 Maplewood 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 Maplewood St, Elk Rapids, MI, 49629 earns $984/mo cash flow from $1,973/mo rent with a $734/mo payment. Total monthly income totals $1,973/mo, and annual cash flow totals $11,810/yr on $49,692 capital. ROI tracks 43.68% on current figures, and rental yield reads 15.79% at a $149,900 purchase. Equity gained on principal adds $967/yr, and 5% annual appreciation supports $41,415 over five years. Five-year ROI reaches 230.93% and total cumulative return in cash sums $114,755. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,973/mo property income instead of your personal income.
Manufactured
Built in 1998
N/A 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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Nearby investment properties with comparable prices
Listed by: James Garrow • Bayside Real Estate
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1927615
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.