1233 Island Dr APT 203Ann ArborMI48105
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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 1233 Island Dr APT 203, Ann Arbor, MI, 48105 uses $79,527 cash to close to unlock $4,958/yr annual cash flow and $413/mo monthly cash flow. Total monthly income runs $1,995/mo, and a $1,174/mo payment keeps the spread at $413/mo. Purchase price stands at $239,900, and rental yield measures 9.98% with $1,995/mo rent. Return on cash invested shows 26.14% in year one, and 5% annual appreciation builds toward $66,280 over five years. Five-year ROI reaches 136.85% and total cumulative return in cash records $108,835. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,995/mo property income covering a $1,174/mo payment rather than investor’s personal income.
Condo
Built in 1964
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48105, Ann Arbor, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,988 (100%) |
| Owner Occupied HU | 8,288 (46.1%) |
| Renter Occupied HU | 8,515 (47.3%) |
| Vacant Housing Units | 1,185 ( 6.6%) |
| Median Home Value | $491,269 |
| Average Home Value | $578,441 |
Housing Distribution
Address Breakdown
Residential
17,208
Single Family
14,376
Multi-Family
2,832
Businesses
619
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