1307 Longfellow AveRoyal OakMI48067
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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
Rental property for sale in Royal Oak at 1307 Longfellow Ave, Royal Oak, MI, 48067 generates $3,763/mo in rent, after a $2,834/mo payment. Total monthly income is $3,763/mo. Return on cash invested sits at 19.71% in year one, and rental yield is 7.8% on a $579,000 entry. Equity gained on principal adds $3,736/yr, while 5% annual appreciation builds toward $159,967 over five years. Five-year ROI reaches 102.29% and total cumulative return in cash sums $194,851. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,763/mo property income rather than buyer’s personal income.
Single Family
Built in 1941
5,227 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48067, Royal Oak, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,049 (100%) |
| Owner Occupied HU | 8,880 (63.2%) |
| Renter Occupied HU | 4,292 (30.6%) |
| Vacant Housing Units | 877 ( 6.2%) |
| Median Home Value | $361,069 |
| Average Home Value | $423,259 |
Housing Distribution
Address Breakdown
Residential
13,560
Single Family
11,107
Multi-Family
2,453
Businesses
1,047
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Listed by: Meredith R Colburn • The Agency Hall & Hunter
Mls Name: Realcomp II
Mls Provider:
Mls ID: #20240072378
Disclaimer: IDX provided courtesy of Realcomp II Ltd. via Zillow, Inc and MLS Copyright 2024 Realcomp II Ltd. Shareholders IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. The data relating to real estate properties on this website was last updated as recently as 2024-10-15 00:25:36 PDT Listing Information presented by local MLS brokerage: Zillow, Inc., REALTOR- Lauren Buttazzoni - (313) 479-2702