859 Carson StTraverse 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 859 Carson St, Traverse City, MI, 49686 priced at $475,000 converts $2,810/mo rent into after a $2,325/mo obligation. Total monthly income equals $2,810/mo. Return on cash invested prints 15.93% in year one, and rental yield reads 7.1% against a $475,000 entry. Equity gained on principal adds $3,065/yr, while 5% annual appreciation compiles into $131,234 by year five. Five-year ROI reaches 82.58% and total cumulative return in cash sums $130,027. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,810/mo property income covering a $2,325/mo payment, not borrower’s personal income.
Condo
Built in 2023
N/A lot
$N/A/sqft
$2,400 annually 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: Rene Hills • REO-TCFront-233021
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1938811
Disclaimer: The information in this listing was gathered from third-party sources including the seller. Northern Great Lakes REALTORS MLS and its subscribers disclaim any and all representations or warranties as to the accuracy of this information. Copyright 2025 Northern Great Lakes REALTORS MLS. All Rights Reserved.