616 Driftwood StElk RapidsMI49629
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 616 Driftwood St, Elk Rapids, MI, 49629 listed at $124,900 pairs $970/mo rent with a $611/mo payment to leave $147/mo cash flow. Total monthly income runs $970/mo, and annual cash flow reaches $1,760/yr on $41,404 cash to close. Return on cash invested measures 24.16% in year one, and rental yield registers 9.32% at a $124,900 basis. Equity gained on principal adds $806/yr, and annual property appreciation at 5% supports $34,508 by year five. Five-year ROI tracks 126.18% and total cumulative return in cash totals $52,246. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $970/mo property income relative to a $611/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Manufactured
Built in 1994
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: Sandy Ehlers • Coldwell Banker Schmidt-Elk Ra
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1930771
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.