216 Artesian Ave #3Harbor SpringsMI49740
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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
Total monthly income runs $1,958/mo, and a $3,421/mo payment. Purchase price stands at $699,000, and rental yield measures 3.36% with $1,958/mo rent. Return on cash invested shows 6.23% in year one, and 5% annual appreciation builds toward $193,121 over five years. Five-year ROI reaches 29.97% and total cumulative return in cash records $68,918. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,958/mo property income covering a $3,421/mo payment rather than investor’s personal income.
Condo
Built in 1983
N/A 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
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Listed by: Kristin Mcdonald • Harbor Sotheby's International Rlty - Harbor Sprgs
Mls Name: Northern Michigan MLS
Mls ID: #478349