1553 Silman StFerndaleMI48220
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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 Ferndale at 1553 Silman St, Ferndale, MI, 48220 uses $48,068 cash to close to unlock $1,515/yr annual cash flow and $126/mo monthly cash flow. Total monthly income runs $1,091/mo, and a $710/mo payment keeps the spread at $126/mo. Purchase price stands at $145,000, and rental yield measures 9.03% with $1,091/mo rent. Return on cash invested shows 23.06% in year one, and 5% annual appreciation builds toward $40,061 over five years. Five-year ROI reaches 120.45% and total cumulative return in cash records $57,896. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,091/mo property income covering a $710/mo payment rather than investor’s personal income.
Single Family
Built in 1924
3,049 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48220, Ferndale, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,987 (100%) |
| Owner Occupied HU | 7,505 (62.6%) |
| Renter Occupied HU | 4,002 (33.4%) |
| Vacant Housing Units | 480 ( 4.0%) |
| Median Home Value | $261,162 |
| Average Home Value | $291,163 |
Housing Distribution
Address Breakdown
Residential
11,565
Single Family
10,425
Multi-Family
1,140
Businesses
1,089
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Listed by: Michael Perna • EXP Realty Main
Mls Name: Realcomp II
Mls Provider:
Mls ID: #20240093634
Disclaimer: IDX provided courtesy of Realcomp II Ltd. via Zillow, Inc and MLS Copyright 2025 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 2025-02-15 07:21:57 PST Listing Information presented by local MLS brokerage: Zillow, Inc., REALTOR- Lauren Buttazzoni - (313) 479-2702