923 E Mitchell StPetoskeyMI49770
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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 Petoskey at 923 E Mitchell St, Petoskey, MI, 49770 offers $2,519/mo rent that, after a $4,801/mo payment. Total monthly income is $2,519/mo. Return on cash invested measures 5.37% in year one, and rental yield stands at 3.08% at a $980,900 entry. Equity gained on principal adds $6,330/yr while 5% annual appreciation compounds into $271,005 by year five. Five-year ROI records 25.4% and total cumulative return in cash reaches $81,979. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,519/mo property income versus a $4,801/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1950
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49770, Petoskey, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,448 (100%) |
| Owner Occupied HU | 5,615 (53.7%) |
| Renter Occupied HU | 2,324 (22.2%) |
| Vacant Housing Units | 2,509 (24.0%) |
| Median Home Value | $336,183 |
| Average Home Value | $446,093 |
Housing Distribution
Address Breakdown
Residential
9,179
Single Family
8,003
Multi-Family
1,176
Businesses
1,216
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