24609 Spring LnHarrison TownshipMI48045
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 24609 Spring Ln, Harrison Township, MI, 48045 in Harrison Township at $169,900 earns $1,318/mo in rent and nets $197/mo after the $764/mo payment, a 9.31% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $46,940 over five years. Ziffy Mortgage underwrites this on a 1.73 DSCR without U.S. credit history. With $1,565/yr in principal paydown, total projected return reaches $77,475.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.3% | 7.3% |
| Monthly Cash Flow | $197 | $500 |
City averages based on Harrison Township market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,318 |
| Total Monthly Debt Service | $1,053 |
| DSCR Ratio | 1.25x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1980
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48045, Harrison Township, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,362 (100%) |
| Owner Occupied HU | 8,181 (66.2%) |
| Renter Occupied HU | 3,402 (27.5%) |
| Vacant Housing Units | 779 ( 6.3%) |
| Median Home Value | $336,322 |
| Average Home Value | $360,409 |
Housing Distribution
Address Breakdown
Residential
12,285
Single Family
10,343
Multi-Family
1,942
Businesses
383
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Condo
Built in 1980
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48045, Harrison Township, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,362 (100%) |
| Owner Occupied HU | 8,181 (66.2%) |
| Renter Occupied HU | 3,402 (27.5%) |
| Vacant Housing Units | 779 ( 6.3%) |
| Median Home Value | $336,322 |
| Average Home Value | $360,409 |
Housing Distribution
Address Breakdown
Residential
12,285
Single Family
10,343
Multi-Family
1,942
Businesses
383
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jessica Zielke • Good Company
Mls Name: Realcomp II
Mls ID: #20251047052