706 Mercer BlvdCharlevoixMI49720
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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 Charlevoix at 706 Mercer Blvd, Charlevoix, MI, 49720 priced at $799,000 converts $7,235/mo rent into $1,966/mo cash flow after a $3,911/mo obligation. Total monthly income equals $7,235/mo, and annual cash flow totals $23,588/yr on $262,871 invested. Return on cash invested prints 29.03% in year one, and rental yield reads 10.87% against a $799,000 entry. Equity gained on principal adds $5,156/yr, while 5% annual appreciation compiles into $220,749 by year five. Five-year ROI reaches 152.27% and total cumulative return in cash sums $400,278. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $7,235/mo property income covering a $3,911/mo payment, not borrower’s personal income.
Single Family
Built in N/A
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49720, Charlevoix, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,248 (100%) |
| Owner Occupied HU | 3,482 (55.7%) |
| Renter Occupied HU | 798 (12.8%) |
| Vacant Housing Units | 1,968 (31.5%) |
| Median Home Value | $298,267 |
| Average Home Value | $400,844 |
Housing Distribution
Address Breakdown
Residential
5,378
Single Family
4,848
Multi-Family
530
Businesses
504
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Nearby investment properties with comparable prices
Listed by: Danielle Smith • Gaslight Group Properties
Mls Name: Northern Michigan MLS
Mls Provider:
Mls ID: #474158
Disclaimer: Copyright Northern Michigan MLS (NM-MLSX). All rights reserved. Information is deemed reliable but not guaranteed.