16295 Highland DrSpring 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 16295 Highland Dr, Spring Lake, MI, 49456 generates $4,854/mo in rent and, after a $2,594/mo payment, leaves $1,359/mo in cash flow. Total monthly income is $4,854/mo, and annual cash flow is $16,308/yr on $174,370 invested. Return on cash invested sits at 29.41% in year one, and rental yield is 10.99% on a $530,000 entry. Equity gained on principal adds $3,420/yr, while 5% annual appreciation builds toward $146,429 over five years. Five-year ROI reaches 154.3% and total cumulative return in cash sums $269,059. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $4,854/mo property income rather than buyer’s personal income.
Single Family
Built in 1989
0.39 Acres 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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Nearby investment properties with comparable prices
Listed by: Laura Zervas • Five Star Real Estate GH
Mls Name: MichRIC
Mls Provider:
Mls ID: #24033166
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2024 MichRIC, LLC. All rights reserved.