5620 Highlands Dr #508Harbor 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 5620 Highlands Dr #508, Harbor Springs, MI, 49740 generates $1,702/mo in rent and, after a $933/mo payment, leaves $445/mo in cash flow. Total monthly income is $1,702/mo, and annual cash flow is $5,338/yr on $63,217 invested. Return on cash invested sits at 28.35% in year one, and rental yield is 10.71% on a $190,700 entry. Equity gained on principal adds $1,231/yr, while 5% annual appreciation builds toward $52,687 over five years. Five-year ROI reaches 148.66% and total cumulative return in cash sums $93,976. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,702/mo property income rather than buyer’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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Listed by: N/A • N/A
Mls Name: undefined
Mls ID: #N/A