870 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 870 Pine Grove Ave, Traverse City, MI, 49686 priced at $309,000 pairs $2,338/mo rent with $301/mo cash flow after a $1,512/mo payment. Total monthly income equals $2,338/mo, and annual cash flow comes to $3,608/yr on $102,434 invested. Return on cash invested is 23.43% in year one, and rental yield stands at 9.08% on a $309,000 basis. Equity gained on principal adds $1,994/yr, and 5% annual appreciation accumulates to $85,371 by year five. Five-year ROI measures 122.27% and total cumulative return in cash reaches $125,249. For financing, Ziffy Mortgage’s DSCR program evaluates $2,338/mo property income against a $1,512/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1952
0.40 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: Ted Schweitzer • REO-TCFront-233021
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1929517
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 2024 Northern Great Lakes REALTORS MLS. All Rights Reserved.