7920 Bay Meadow DrHarbor SpringsMI49740
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 7920 Bay Meadow Dr, Harbor Springs, MI, 49740 priced at $795,000 converts $4,685/mo rent into after a $3,891/mo obligation. Total monthly income equals $4,685/mo. Return on cash invested prints 17.5% in year one, and rental yield reads 7.07% against a $795,000 entry. Equity gained on principal adds $5,130/yr, while 5% annual appreciation compiles into $219,644 by year five. Five-year ROI reaches 90.44% and total cumulative return in cash sums $236,554. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $4,685/mo property income covering a $3,891/mo payment, not borrower’s personal income.
Single Family
Built in 2022
1.46 Acres 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Patrick Leavy • Kidd & Leavy Real Estate Co. LLC
Mls Name: Northern Michigan MLS
Mls Provider:
Mls ID: #475594
Disclaimer: Copyright Northern Michigan MLS (NM-MLSX). All rights reserved. Information is deemed reliable but not guaranteed.