859 Pine Grove AveTraverse 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 Pine Grove Ave, Traverse City, MI, 49686 priced at $600,000 converts $5,743/mo rent into $1,786/mo cash flow after a $2,937/mo obligation. Total monthly income equals $5,743/mo, and annual cash flow totals $21,432/yr on $197,400 invested. Return on cash invested prints 30.92% in year one, and rental yield reads 11.49% against a $600,000 entry. Equity gained on principal adds $3,872/yr, while 5% annual appreciation compiles into $165,769 by year five. Five-year ROI reaches 162.36% and total cumulative return in cash sums $320,508. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $5,743/mo property income covering a $2,937/mo payment, not borrower’s personal income.
Single Family
Built in 2007
0.50 Acres lot
$N/A/sqft
No 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: Kimberly Leahy • REO - Elk Rapids-101308
Mls Name: NGLRMLS
Mls ID: #1938326