221 Riverfront St APT 12Spring 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
Total monthly income runs $2,538/mo, and a $2,936/mo payment. Purchase price stands at $599,900, and rental yield measures 5.08% with $2,538/mo rent. Return on cash invested shows 9.92% in year one, and 5% annual appreciation builds toward $165,741 over five years. Five-year ROI reaches 50.34% and total cumulative return in cash records $99,364. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,538/mo property income covering a $2,936/mo payment rather than investor’s personal income.
Condo
Built in 1994
N/A lot
$N/A/sqft
$250 monthly 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: Gina J Vis • HomeRealty, LLC
Mls Name: MichRIC
Mls Provider:
Mls ID: #25047291
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2025 MichRIC, LLC. All rights reserved.