9889 E Cherry Bend RdTraverse CityMI49684
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
Investment Highlights
Investment property for sale in Traverse City at 9889 E Cherry Bend Rd, Traverse City, MI, 49684 uses $102,732 cash to close to unlock $3,974/yr annual cash flow and $331/mo monthly cash flow. Total monthly income runs $2,375/mo, and a $1,517/mo payment keeps the spread at $331/mo. Purchase price stands at $309,900, and rental yield measures 9.2% with $2,375/mo rent. Return on cash invested shows 23.78% in year one, and 5% annual appreciation builds toward $85,620 over five years. Five-year ROI reaches 124.14% and total cumulative return in cash records $127,536. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,375/mo property income covering a $1,517/mo payment rather than investor’s personal income.
Single Family
Built in 1946
1.39 Acres lot
$N/A/sqft
No 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
Listed by: Lisa Mcsauby • Five Star Real Estate - Front St TC
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1926365
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.