5620 Highlands Dr #521Harbor 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
Investment property for sale in Harbor Springs at 5620 Highlands Dr #521, Harbor Springs, MI, 49740 uses $62,985 cash to close to unlock $6,852/yr annual cash flow and $571/mo monthly cash flow. Total monthly income runs $1,824/mo, and a $930/mo payment keeps the spread at $571/mo. Purchase price stands at $189,999, and rental yield measures 11.52% with $1,824/mo rent. Return on cash invested shows 30.79% in year one, and 5% annual appreciation builds toward $52,493 over five years. Five-year ROI reaches 161.7% and total cumulative return in cash records $101,844. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,824/mo property income covering a $930/mo payment rather than investor’s personal income.
Condo
Built in 1988
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: Jennifer Miller • Graham Real Estate
Mls Name: Northern Michigan MLS
Mls ID: #476478