619 2nd 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
Investment property for sale in Traverse City at 619 2nd St, Traverse City, MI, 49684 uses $94,478 cash to close to unlock $1,242/yr annual cash flow and $104/mo monthly cash flow. Total monthly income runs $1,983/mo, and a $1,395/mo payment keeps the spread at $104/mo. Purchase price stands at $285,000, and rental yield measures 8.35% with $1,983/mo rent. Return on cash invested shows 21.22% in year one, and 5% annual appreciation builds toward $78,740 over five years. Five-year ROI reaches 110.45% and total cumulative return in cash records $104,346. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,983/mo property income covering a $1,395/mo payment rather than investor’s personal income.
Single Family
Built in 1906
3,920 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: Stacy Allman • MI Properties North Real Estate Group
Mls Name: NGLRMLS
Mls ID: #1939899