109 2nd Pnes #B-3Harbor SpringsMI49740
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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
Investment property for sale in Harbor Springs at 109 2nd Pnes #B-3, Harbor Springs, MI, 49740 listed at $495,000 pairs $2,640/mo rent with a $2,423/mo payment. Total monthly income runs $2,640/mo. Return on cash invested measures 15.34% in year one, and rental yield registers 6.4% at a $495,000 basis. Equity gained on principal adds $3,194/yr, and annual property appreciation at 5% supports $136,759 by year five. Five-year ROI tracks 78.88% and total cumulative return in cash totals $129,442. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,640/mo property income relative to a $2,423/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 2000
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49740, Harbor Springs, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,444 (100%) |
| Owner Occupied HU | 3,072 (47.7%) |
| Renter Occupied HU | 529 ( 8.2%) |
| Vacant Housing Units | 2,843 (44.1%) |
| Median Home Value | $375,000 |
| Average Home Value | $480,244 |
Housing Distribution
Address Breakdown
Residential
4,857
Single Family
4,689
Multi-Family
168
Businesses
499
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Listed by: Michael "mac" Mccarthy • Gaslight Group Properties
Mls Name: Northern Michigan MLS
Mls ID: #478438