704 Lake Park DrBoyne CityMI49712
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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 Boyne City at 704 Lake Park Dr, Boyne City, MI, 49712 offers $3,124/mo rent that, after a $3,274/mo payment. Total monthly income is $3,124/mo. Return on cash invested measures 13.04% in year one, and rental yield stands at 5.6% at a $669,000 entry. Equity gained on principal adds $4,317/yr while 5% annual appreciation compounds into $184,832 by year five. Five-year ROI records 66.52% and total cumulative return in cash reaches $146,415. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $3,124/mo property income versus a $3,274/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1996
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49712, Boyne City, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,368 (100%) |
| Owner Occupied HU | 2,983 (55.6%) |
| Renter Occupied HU | 671 (12.5%) |
| Vacant Housing Units | 1,714 (31.9%) |
| Median Home Value | $299,918 |
| Average Home Value | $392,153 |
Housing Distribution
Address Breakdown
Residential
4,159
Single Family
3,938
Multi-Family
221
Businesses
346
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Listed by: Mallory O'brien • Pat O'Brien & Associates - Boyne City
Mls Name: Northern Michigan MLS
Mls ID: #478357