631 E Lake St LOT 48Harbor 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 631 E Lake St LOT 48, Harbor Springs, MI, 49740 uses $54,698 cash to close to unlock $2,190/yr annual cash flow and $183/mo monthly cash flow. Total monthly income runs $1,271/mo, and a $808/mo payment keeps the spread at $183/mo. Purchase price stands at $165,000, and rental yield measures 9.24% with $1,271/mo rent. Return on cash invested shows 23.91% in year one, and 5% annual appreciation builds toward $45,586 over five years. Five-year ROI reaches 124.9% and total cumulative return in cash records $68,315. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,271/mo property income covering a $808/mo payment rather than investor’s personal income.
Single Family
Built in N/A
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: Kevin Olson • Graham Real Estate
Mls Name: Northern Michigan MLS
Mls ID: #477460