998 W Us Highway 23CheboyganMI49721
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 Cheboygan at 998 W Us Highway 23, Cheboygan, MI, 49721 offers a 8.31% rental yield on a $199,000 purchase with $1,378/mo rent. Total monthly income registers $1,378/mo, and a $974/mo payment leaves $66/mo available for distribution. Annual cash flow reaches $788/yr on $65,969 to close, and return on cash invested stands at 21.1% in year one. Equity gained on principal adds $1,284/yr while 5% annual appreciation supports $54,980 over five years. Portfolio math shows five-year ROI at 109.79% and total cumulative return in cash at $72,426. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,378/mo property income against a $974/mo payment rather than investor’s personal income documents like 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: 49721, Cheboygan, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,028 (100%) |
| Owner Occupied HU | 5,139 (56.9%) |
| Renter Occupied HU | 1,234 (13.7%) |
| Vacant Housing Units | 2,655 (29.4%) |
| Median Home Value | $222,067 |
| Average Home Value | $297,208 |
Housing Distribution
Address Breakdown
Residential
7,068
Single Family
6,759
Multi-Family
309
Businesses
534
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Nearby investment properties with comparable prices
Listed by: Chris Toulouse • KW Northern Michigan Properties
Mls Name: EUPBR
Mls Provider:
Mls ID: #25-662
Disclaimer: Copyright Eastern Upper Peninsula Board of Realtors. All rights reserved. Information is deemed reliable but not guaranteed. The listing brokers offer of compensation is made only to participants of the MLS where the listing is filed.