13105 Cove Ridge DrSouth LyonMI48178
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderTight but positive: 13105 Cove Ridge Dr, South Lyon, MI, 48178 in South Lyon at $489,000 earns $3,227/mo in rent and nets $2/mo after the $2,199/mo payment, a 7.92% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $135,102 over five years. Ziffy Mortgage underwrites this on a 1.47 DSCR without U.S. credit history. With $4,504/yr in principal paydown, total projected return reaches $186,435.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.9% | 7.0% |
| Monthly Cash Flow | $2 | $850 |
City averages based on South Lyon market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,227 |
| Total Monthly Debt Service | $3,030 |
| DSCR Ratio | 1.06x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1998
0.67 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48178, South Lyon, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,935 (100%) |
| Owner Occupied HU | 12,984 (86.9%) |
| Renter Occupied HU | 1,470 ( 9.8%) |
| Vacant Housing Units | 481 ( 3.2%) |
| Median Home Value | $415,202 |
| Average Home Value | $441,574 |
Housing Distribution
Address Breakdown
Residential
15,206
Single Family
14,806
Multi-Family
400
Businesses
662
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
Single Family
Built in 1998
0.67 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48178, South Lyon, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,935 (100%) |
| Owner Occupied HU | 12,984 (86.9%) |
| Renter Occupied HU | 1,470 ( 9.8%) |
| Vacant Housing Units | 481 ( 3.2%) |
| Median Home Value | $415,202 |
| Average Home Value | $441,574 |
Housing Distribution
Address Breakdown
Residential
15,206
Single Family
14,806
Multi-Family
400
Businesses
662
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices