18372 N Ridge Ct APT 8Spring 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
Investment property for sale in Spring Lake at 18372 N Ridge Ct APT 8, Spring Lake, MI, 49456 listed at $214,900 pairs $1,449/mo rent with a $1,052/mo payment to leave $32/mo cash flow. Total monthly income runs $1,449/mo, and annual cash flow reaches $380/yr on $71,239 cash to close. Return on cash invested measures 20.44% in year one, and rental yield registers 8.09% at a $214,900 basis. Equity gained on principal adds $1,387/yr, and annual property appreciation at 5% supports $59,373 by year five. Five-year ROI tracks 106.26% and total cumulative return in cash totals $75,702. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,449/mo property income relative to a $1,052/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 2004
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: Sue Auw • Real Estate Connection
Mls Name: MichRIC
Mls ID: #25062675