15801 Providence Dr APT 10CSouthfieldMI48075
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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 Southfield at 15801 Providence Dr APT 10C, Southfield, MI, 48075 generates $1,314/mo in rent and, after a $808/mo payment, leaves $226/mo in cash flow. Total monthly income is $1,314/mo, and annual cash flow is $2,706/yr on $54,698 invested. Return on cash invested sits at 24.86% in year one, and rental yield is 9.56% on a $165,000 entry. Equity gained on principal adds $1,065/yr, while 5% annual appreciation builds toward $45,586 over five years. Five-year ROI reaches 129.96% and total cumulative return in cash sums $71,087. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,314/mo property income rather than buyer’s personal income.
Condo
Built in 1971
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48075, Southfield, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,504 (100%) |
| Owner Occupied HU | 6,113 (58.2%) |
| Renter Occupied HU | 3,727 (35.5%) |
| Vacant Housing Units | 664 ( 6.3%) |
| Median Home Value | $253,171 |
| Average Home Value | $298,568 |
Housing Distribution
Address Breakdown
Residential
10,112
Single Family
6,473
Multi-Family
3,639
Businesses
1,720
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Listed by: Alva B Eddleman • Ambassador Real Estate Inc
Mls Name: Realcomp II
Mls ID: #20251044068