720 Centre PlTraverse 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
Rental property for sale in Traverse City at 720 Centre Pl, Traverse City, MI, 49686 priced at $519,000 converts $1,370/mo rent into after a $2,540/mo obligation. Total monthly income equals $1,370/mo. Return on cash invested prints 2.84% in year one, and rental yield reads 3.17% against a $519,000 entry. Equity gained on principal adds $3,349/yr, while 5% annual appreciation compiles into $143,390 by year five. Five-year ROI reaches 12.83% and total cumulative return in cash sums $21,909. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,370/mo property income covering a $2,540/mo payment, not borrower’s personal income.
Condo
Built in 1985
N/A lot
$N/A/sqft
$398 monthly 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: JEFF KERMATH • KERMATH REALTY LLC
Mls Name: Realcomp II
Mls Provider:
Mls ID: #77080050518
Disclaimer: IDX provided courtesy of Realcomp II Ltd. via Zillow, Inc and MLS Copyright 2024 Realcomp II Ltd. Shareholders IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. The data relating to real estate properties on this website was last updated as recently as 2024-09-14 02:52:53 PDT Listing Information presented by local MLS brokerage: Zillow, Inc., REALTOR- Lauren Buttazzoni - (313) 479-2702