917 3rd St #10Traverse CityMI49684
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe yield at 917 3rd St #10, Traverse City, MI, 49684 in Traverse City speaks for itself: 10.62% gross on a $329,900 price, generating $2,921/mo in rent and $578/mo in net income after the $1,483/mo debt service. DSCR 1.97, a wide margin that supports Ziffy Mortgage's DSCR loan without any personal income check. Annual cash flow of $6,939 stacks alongside $91,145 in projected five-year appreciation and $3,038/yr in principal reduction. Projected total cumulative return: $163,699.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.6% | 6.0% |
| Monthly Cash Flow | $578 | $500 |
City averages based on Traverse City market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,921 |
| Total Monthly Debt Service | $2,211 |
| DSCR Ratio | 1.32x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 2017
N/A lot
$N/A/sqft
$2,004 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49684, Traverse City, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,302 (100%) |
| Owner Occupied HU | 7,484 (60.8%) |
| Renter Occupied HU | 3,386 (27.5%) |
| Vacant Housing Units | 1,432 (11.6%) |
| Median Home Value | $398,218 |
| Average Home Value | $509,057 |
Housing Distribution
Address Breakdown
Residential
11,586
Single Family
9,750
Multi-Family
1,836
Businesses
1,955
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Condo
Built in 2017
N/A lot
$N/A/sqft
$2,004 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49684, Traverse City, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,302 (100%) |
| Owner Occupied HU | 7,484 (60.8%) |
| Renter Occupied HU | 3,386 (27.5%) |
| Vacant Housing Units | 1,432 (11.6%) |
| Median Home Value | $398,218 |
| Average Home Value | $509,057 |
Housing Distribution
Address Breakdown
Residential
11,586
Single Family
9,750
Multi-Family
1,836
Businesses
1,955
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices