113 Millpoint Dr #113Spring LakeMI49456
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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
Total monthly income runs $1,524/mo, and a $1,468/mo payment. Purchase price stands at $299,900, and rental yield measures 6.1% with $1,524/mo rent. Return on cash invested shows 14.43% in year one, and 5% annual appreciation builds toward $82,857 over five years. Five-year ROI reaches 74.04% and total cumulative return in cash records $73,612. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,524/mo property income covering a $1,468/mo payment rather than investor’s personal income.
Condo
Built in 1999
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49456, Spring Lake, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,935 (100%) |
| Owner Occupied HU | 7,221 (72.7%) |
| Renter Occupied HU | 1,752 (17.6%) |
| Vacant Housing Units | 962 ( 9.7%) |
| Median Home Value | $380,316 |
| Average Home Value | $448,608 |
Housing Distribution
Address Breakdown
Residential
9,324
Single Family
8,560
Multi-Family
764
Businesses
493
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Listed by: Melissa A Denny • Dodgson Land Co
Mls Name: MichRIC
Mls ID: #25028407