630 S Garfield Ave #215Traverse CityMI49686
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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 S Garfield Ave #215, Traverse City, MI, 49686 earns from $2,147/mo rent with a $1,640/mo payment. Total monthly income totals $2,147/mo. ROI tracks 19.23% on current figures, and rental yield reads 7.69% at a $335,000 purchase. Equity gained on principal adds $2,162/yr, and 5% annual appreciation supports $92,554 over five years. Five-year ROI reaches 99.77% and total cumulative return in cash sums $110,792. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,147/mo property income instead of your personal income.
Condo
Built in 2018
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49686, Traverse City, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,006 (100%) |
| Owner Occupied HU | 8,532 (60.9%) |
| Renter Occupied HU | 3,760 (26.8%) |
| Vacant Housing Units | 1,714 (12.2%) |
| Median Home Value | $375,817 |
| Average Home Value | $494,907 |
Housing Distribution
Address Breakdown
Residential
12,964
Single Family
12,118
Multi-Family
846
Businesses
1,436
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Listed by: Ann Porter • REO-TCRandolph-233022
Mls Name: NGLRMLS
Mls ID: #1941633