1316 E Lake DrNoviMI48377
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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 Novi at 1316 E Lake Dr, Novi, MI, 48377 listed at $1,950,000 pairs $1,940/mo rent with a $9,544/mo payment. Total monthly income runs $1,940/mo. Return on cash invested measures -0.37% in year one, and rental yield registers 1.19% at a $1,950,000 basis. Equity gained on principal adds $12,583/yr, and annual property appreciation at 5% supports $538,749 by year five. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,940/mo property income relative to a $9,544/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 2014
3,920 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48377, Novi, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,627 (100%) |
| Owner Occupied HU | 4,579 (43.1%) |
| Renter Occupied HU | 5,495 (51.7%) |
| Vacant Housing Units | 553 ( 5.2%) |
| Median Home Value | $371,899 |
| Average Home Value | $391,096 |
Housing Distribution
Address Breakdown
Residential
9,525
Single Family
6,532
Multi-Family
2,993
Businesses
735
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