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$329,900

Sale Pending
11847 Seven Pine Dr, Holland, MI 49424
3 Beds
3 Baths
1,776 Square Feet
0.00 Acres Lot
Built in 1999
Sale Pending
Units n/a
Checked: 10 hours ago
Updated: Jul 21, 2025 at 03:18AM

Investment Summary


Monthly Cash Flow
-$280
Cap Rate
5.1%
Cash-on-Cash Return
-4.4%
Debt Coverage Ratio
0.83
Internal Rate of Return (5 years)
-0.3%

Property Description


0.00 Acres Lot
Built in 1999
Sale Pending
Units n/a

Priced to Sell! This recently painted, spacious three-bedroom, two-and-a-half-bath condominium in Holland Township is move-in ready. All kitchen appliances are less than two years old. The air conditioning and furnace units are under five years old. Located adjacent to Riley Farms Elementary School, this residence offers convenient access for families with children. The property features an oversized two-car garage and ample driveway parking. Additional amenities include underground sprinkler system, a private backyard, and an outdoor cat enclosure that can remain if desired. This condo is ideally situated close to schools, restaurants, shopping centers, and other key areas of Holland, providing easy access to all that makes the community so desirable.

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Location


Property Details


Parking

  • Description: 2
  • Details: Garage Door Opener, Garage Faces Front, Attached, Paved
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 9
  • # of Stories: 2

Exterior Features

  • Exterior Walls Materials: Siding (Alum/Vinyl)
  • Foundation: Slab
  • Roof Material: Asphalt

HOA

  • Has HOA: Yes
  • HOA Fee: $55/annually
  • Additional HOA Fee: $55

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 701615361001
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: Other
  • Year Built: 1999

Tax Information

  • Annual Tax: $2,062

Utilities

  • Water & Sewer: Public
  • Heating: Natural Gas, Forced Air
  • Cooling: Ceiling Fan(s), Central Air

Location

  • County: Ottawa

Listing Details


Listed by:
Nicole LaCroix
Coldwell Banker Woodland Schmidt
(616) 610-2221

Source:
Southwestern Michigan Association of REALTORS
MLS#: 25029827
Southwestern Michigan Association of REALTORS

Investment Summary


Monthly Cash Flow
-$280
Cap Rate
5.1%
Cash-on-Cash Return
-4.4%
Debt Coverage Ratio
0.83
Internal Rate of Return (5 years)
-0.3%

Purchase Details

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Purchase price:
$329,900
Amount financed:
-$263,920
Down payment:
$65,980
Closing costs:
$9,897
Rehab costs:
$0
Initial cash invested:
$75,877
Square feet:
1,776
Cost per square foot:
$186
Monthly rent per square foot:
$1.30

Financing Details

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Loan amount:
$263,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,690
Property tax:
$172
Insurance:
$161
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,023

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,300 $27,600
Vacancy loss: (6%)
6% -$138 -$1,656
Operating income:
$2,162 $25,944

Operating Expenses


% Rent Monthly Yearly
Property taxes: (7%)
7%-$172-$2,063
Insurance: (7%)
7%-$161-$1,932
Property management: (8%)
8%-$184-$2,208
Repairs & maintenance: (5%)
5%-$115-$1,380
Capital expenditures: (5%)
5%-$115-$1,380
HOA fees: (0%)
0%-$5-$60
Total operating expenses: (33%)
33%-$752-$9,023

Cash Flow


Monthly Yearly
Net operating income:
$1,410 $16,920
Mortgage payments:
-$1,690 -$20,280
Cash flow:
$280 $3,360