15784 Prospect Point Dr #10Spring 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
Rental property for sale in Spring Lake at 15784 Prospect Point Dr #10, Spring Lake, MI, 49456 generates $3,787/mo in rent, after a $4,405/mo payment. Total monthly income is $3,787/mo. Return on cash invested sits at 11.36% in year one, and rental yield is 5.05% on a $900,000 entry. Equity gained on principal adds $5,808/yr, while 5% annual appreciation builds toward $248,653 over five years. Five-year ROI reaches 57.47% and total cumulative return in cash sums $170,172. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,787/mo property income rather than buyer’s personal income.
Condo
Built in 1978
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: Brian David Klingel • Coldwell Banker Woodland Schmidt Grand Haven
Mls Name: MichRIC
Mls Provider:
Mls ID: #25038672
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2025 MichRIC, LLC. All rights reserved.