258 Artesian AveHarbor 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
Rental property for sale in Harbor Springs at 258 Artesian Ave, Harbor Springs, MI, 49740 priced at $594,000 converts $1,963/mo rent into after a $2,907/mo obligation. Total monthly income equals $1,963/mo. Return on cash invested prints 8.06% in year one, and rental yield reads 3.97% against a $594,000 entry. Equity gained on principal adds $3,833/yr, while 5% annual appreciation compiles into $164,111 by year five. Five-year ROI reaches 39.84% and total cumulative return in cash sums $77,856. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,963/mo property income covering a $2,907/mo payment, not borrower’s personal income.
Condo
Built in 1987
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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Nearby investment properties with comparable prices
Listed by: Drew Bartlett • Graham Real Estate
Mls Name: Northern Michigan MLS
Mls Provider:
Mls ID: #475961
Disclaimer: Copyright Northern Michigan MLS (NM-MLSX). All rights reserved. Information is deemed reliable but not guaranteed.