18400 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 18400 N Ridge Ct APT 8, Spring Lake, MI, 49456 earns $8/mo cash flow from $1,425/mo rent with a $1,052/mo payment. Total monthly income totals $1,425/mo, and annual cash flow totals $92/yr on $71,239 capital. ROI tracks 20.04% on current figures, and rental yield reads 7.96% at a $214,900 purchase. Equity gained on principal adds $1,387/yr, and 5% annual appreciation supports $59,373 over five years. Five-year ROI reaches 104.07% and total cumulative return in cash sums $74,142. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,425/mo property income instead of your personal income.
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: Meagan Gassmann • Coldwell Banker Woodland Schmidt Grand Haven
Mls Name: MichRIC
Mls ID: #25062129