8422 Applewood CtMackinac IslandMI49757
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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 Mackinac Island at 8422 Applewood Ct, Mackinac Island, MI, 49757 priced at $985,000 pairs $3,887/mo rent with after a $4,821/mo payment. Total monthly income equals $3,887/mo. Return on cash invested is 10.4% in year one, and rental yield stands at 4.74% on a $985,000 basis. Equity gained on principal adds $6,356/yr, and 5% annual appreciation accumulates to $272,137 by year five. Five-year ROI measures 52.36% and total cumulative return in cash reaches $169,678. For financing, Ziffy Mortgage’s DSCR program evaluates $3,887/mo property income against a $4,821/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1986
0.34 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49757, Mackinac Island, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 978 (100%) |
| Owner Occupied HU | 179 (18.3%) |
| Renter Occupied HU | 116 (11.9%) |
| Vacant Housing Units | 683 (69.8%) |
| Median Home Value | $602,273 |
| Average Home Value | $700,140 |
Housing Distribution
Address Breakdown
Residential
1
Single Family
1
Multi-Family
0
Businesses
137
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Nearby investment properties with comparable prices
Listed by: Tom Marx • Horizon Realty
Mls Name: EUPBR
Mls Provider:
Mls ID: #24-745
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.