618 Edgewater DrSpring LakeMI49456
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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 Spring Lake at 618 Edgewater Dr, Spring Lake, MI, 49456 with 5% annual appreciation on a $454,900 basis while $3,035/mo rent supports operations. Total monthly income totals $3,035/mo and a $2,227/mo payment preserves $35/mo for cash returns. Annual cash flow comes to $416/yr on $150,799 deployed, and return on cash invested reaches 20.18% in year one. Equity gained on principal adds $2,935/yr, and five-year appreciation sums $125,680 alongside rental yield of 8.01%. Five-year ROI measures 104.85% and total cumulative return in cash totals $158,120.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $3,035/mo property income versus a $2,227/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Condo
Built in 1988
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49456, Spring Lake, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,935 (100%) |
| Owner Occupied HU | 7,221 (72.7%) |
| Renter Occupied HU | 1,752 (17.6%) |
| Vacant Housing Units | 962 ( 9.7%) |
| Median Home Value | $380,316 |
| Average Home Value | $448,608 |
Housing Distribution
Address Breakdown
Residential
9,324
Single Family
8,560
Multi-Family
764
Businesses
493
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Listed by: Patti Pitcher • Greenridge Realty
Mls Name: MichRIC
Mls ID: #25020727