630 S Garfield Ave #405Traverse 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
Total monthly income runs $1,790/mo, and a $1,590/mo payment. Purchase price stands at $324,900, and rental yield measures 6.61% with $1,790/mo rent. Return on cash invested shows 15.98% in year one, and 5% annual appreciation builds toward $89,764 over five years. Five-year ROI reaches 82.33% and total cumulative return in cash records $88,673. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,790/mo property income covering a $1,590/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: 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: Hillary Voight • Five Star Real Estate - Front St TC
Mls Name: NGLRMLS
Mls ID: #1936420