630-215 S Garfield AveTraverse CityMI49696
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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 630-215 S Garfield Ave, Traverse City, MI, 49696 uses $111,053 cash to close to unlock $3,198/yr annual cash flow and $267/mo monthly cash flow. Total monthly income runs $2,476/mo, and a $1,640/mo payment keeps the spread at $267/mo. Purchase price stands at $335,000, and rental yield measures 8.87% with $2,476/mo rent. Return on cash invested shows 22.79% in year one, and 5% annual appreciation builds toward $92,554 over five years. Five-year ROI reaches 118.83% and total cumulative return in cash records $131,960. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,476/mo property income covering a $1,640/mo payment rather than investor’s personal income.
Condo
Built in 2018
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49696, Traverse City, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,804 (100%) |
| Owner Occupied HU | 3,505 (73.0%) |
| Renter Occupied HU | 631 (13.1%) |
| Vacant Housing Units | 668 (13.9%) |
| Median Home Value | $370,334 |
| Average Home Value | $476,598 |
Housing Distribution
Address Breakdown
Residential
4,328
Single Family
4,327
Multi-Family
1
Businesses
438
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Listed by: Ann Porter • REO-TCRandolph-233022
Mls Name: NGLRMLS
Mls ID: #1934611