7862 Mullett Lake RdCheboyganMI49721
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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
Investment property for sale in Cheboygan at 7862 Mullett Lake Rd, Cheboygan, MI, 49721 listed at $185,000 pairs $2,820/mo rent with a $905/mo payment to leave $1,601/mo cash flow. Total monthly income runs $2,820/mo, and annual cash flow reaches $19,206/yr on $61,328 cash to close. Return on cash invested measures 51.23% in year one, and rental yield registers 18.29% at a $185,000 basis. Equity gained on principal adds $1,194/yr, and annual property appreciation at 5% supports $51,112 by year five. Five-year ROI tracks 271.36% and total cumulative return in cash totals $166,419. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,820/mo property income relative to a $905/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1984
0.37 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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Nearby investment properties with comparable prices
Listed by: Diane Stocking, Associate Broker • United Country Real Estate Rural Estates
Mls Name: EUPBR
Mls Provider:
Mls ID: #24-772
Disclaimer: Copyright Eastern Upper Peninsula Board of Realtors. All rights reserved. Information is deemed reliable but not guaranteed. The listing brokers offer of compensation is made only to participants of the MLS where the listing is filed.