1150 Sumac StHarbor SpringsMI49740
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 Harbor Springs at 1150 Sumac St, Harbor Springs, MI, 49740 uses $122,324 cash to close to unlock $3,680/yr annual cash flow and $307/mo monthly cash flow. Total monthly income runs $2,740/mo, and a $1,806/mo payment keeps the spread at $307/mo. Purchase price stands at $369,000, and rental yield measures 8.91% with $2,740/mo rent. Return on cash invested shows 22.92% in year one, and 5% annual appreciation builds toward $101,948 over five years. Five-year ROI reaches 119.51% and total cumulative return in cash records $146,187. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,740/mo property income covering a $1,806/mo payment rather than investor’s personal income.
Single Family
Built in 1976
0.30 Acres 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Michael "mac" Mccarthy • Gaslight Group Properties
Mls Name: Northern Michigan MLS
Mls ID: #477994