4056 N Ayr Road
About This Property
With approximately 310 feet of paved road frontage, the property offers open space and a surrounding countryside setting that provide flexibility for future plans. Electric is available at the road for future connection.
What truly separates the location is everything surrounding it. Within roughly 20 miles, you can reach Petoskey, Harbor Springs, Mackinaw City, Crooked Lake, Little Traverse Bay, and the Tunnel of Trees scenic route, along with access to boating, golf courses, hiking trails, waterfront communities, and year-round Northern Michigan recreation. The nearby Inland Waterway system and surrounding lakes further contribute to the area's long-standing appeal for outdoor enthusiasts and seasonal travelers alike.
Whether the focus is time spent on the water, exploring nearby towns, or simply enjoying the pace of Northern Michigan, the surrounding area offers a wide range of recreational and seasonal attractions within easy reach.
Boundaries shown are approximate.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
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