609 Melrose DrHollandMI49423
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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 Holland at 609 Melrose Dr, Holland, MI, 49423 priced at $364,900 converts $3,154/mo rent into $748/mo cash flow after a $1,786/mo obligation. Total monthly income equals $3,154/mo, and annual cash flow totals $8,972/yr on $120,964 invested. Return on cash invested prints 27.33% in year one, and rental yield reads 10.37% against a $364,900 entry. Equity gained on principal adds $2,355/yr, while 5% annual appreciation compiles into $100,815 by year five. Five-year ROI reaches 143.15% and total cumulative return in cash sums $173,160. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,154/mo property income covering a $1,786/mo payment, not borrower’s personal income.
Condo
Built in 2000
6.68 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49423, Holland, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,394 (100%) |
| Owner Occupied HU | 13,784 (67.6%) |
| Renter Occupied HU | 5,226 (25.6%) |
| Vacant Housing Units | 1,384 ( 6.8%) |
| Median Home Value | $303,847 |
| Average Home Value | $367,518 |
Housing Distribution
Address Breakdown
Residential
19,491
Single Family
18,368
Multi-Family
1,123
Businesses
1,693
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