7453 Michigan Heights Dr #56CharlevoixMI49720
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Nearby investment properties with comparable prices
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
Investment property for sale in Charlevoix at 7453 Michigan Heights Dr #56, Charlevoix, MI, 49720 earns $185/mo cash flow from $1,240/mo rent with a $783/mo payment. Total monthly income totals $1,240/mo, and annual cash flow totals $2,220/yr on $53,040 capital. ROI tracks 24.09% on current figures, and rental yield reads 9.3% at a $160,000 purchase. Equity gained on principal adds $1,032/yr, and 5% annual appreciation supports $44,205 over five years. Five-year ROI reaches 125.79% and total cumulative return in cash sums $66,722. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,240/mo property income instead of your personal income.
Single Family
Built in 1991
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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Listed by: Steve Ludwig • Real Estate One
Mls Name: Northern Michigan MLS
Mls Provider:
Mls ID: #476530
Disclaimer: Copyright Northern Michigan MLS (NM-MLSX). All rights reserved. Information is deemed reliable but not guaranteed.