6557 N Straits HwyCheboyganMI49721
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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
Rental property for sale in Cheboygan at 6557 N Straits Hwy, Cheboygan, MI, 49721 priced at $230,000 converts $1,703/mo rent into $186/mo cash flow after a $1,126/mo obligation. Total monthly income equals $1,703/mo, and annual cash flow totals $2,232/yr on $76,245 invested. Return on cash invested prints 22.84% in year one, and rental yield reads 8.89% against a $230,000 entry. Equity gained on principal adds $1,484/yr, while 5% annual appreciation compiles into $63,545 by year five. Five-year ROI reaches 119.06% and total cumulative return in cash sums $90,775. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,703/mo property income covering a $1,126/mo payment, not borrower’s personal income.
Single Family
Built in 1989
0.81 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49721, Cheboygan, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,028 (100%) |
| Owner Occupied HU | 5,139 (56.9%) |
| Renter Occupied HU | 1,234 (13.7%) |
| Vacant Housing Units | 2,655 (29.4%) |
| Median Home Value | $222,067 |
| Average Home Value | $297,208 |
Housing Distribution
Address Breakdown
Residential
7,068
Single Family
6,759
Multi-Family
309
Businesses
534
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