118 W Summit StAnn ArborMI48103
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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 Ann Arbor at 118 W Summit St, Ann Arbor, MI, 48103 uses $132,600 cash to close to unlock $900/yr annual cash flow and $75/mo monthly cash flow. Total monthly income runs $2,713/mo, and a $1,958/mo payment keeps the spread at $75/mo. Purchase price stands at $400,000, and rental yield measures 8.14% with $2,713/mo rent. Return on cash invested shows 20.59% in year one, and 5% annual appreciation builds toward $110,513 over five years. Five-year ROI reaches 107% and total cumulative return in cash records $141,880. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,713/mo property income covering a $1,958/mo payment rather than investor’s personal income.
Single Family
Built in 1901
3,920 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48103, Ann Arbor, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 26,175 (100%) |
| Owner Occupied HU | 16,858 (64.4%) |
| Renter Occupied HU | 7,745 (29.6%) |
| Vacant Housing Units | 1,572 ( 6.0%) |
| Median Home Value | $465,693 |
| Average Home Value | $509,229 |
Housing Distribution
Address Breakdown
Residential
25,905
Single Family
22,174
Multi-Family
3,731
Businesses
1,545
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Listed by: Desert Klein-Kassab • Real Estate One/Max Broock Realtors
Mls Name: MiRealSource
Mls Provider:
Mls ID: #50185013
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