2053 Pilgrim 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 2053 Pilgrim St, Ferndale, MI, 48220 with 5% annual appreciation on a $167,500 basis while $1,301/mo rent supports operations. 53% in year one. Equity gained on principal adds $1,081/yr, and five-year appreciation sums $46,277 alongside rental yield of 9.32%. Five-year ROI measures 103.07% and total cumulative return in cash totals $57,232. Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $1,301/mo property income versus a $820/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Single Family
Built in 1949
4,791 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: Jonathan Levin • Urban Ridge Realty LLC
Mls Name: Realcomp II
Mls Provider:
Mls ID: #20250023503
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 2025-04-08 07:51:20 PDT Listing Information presented by local MLS brokerage: Zillow, Inc., REALTOR- Lauren Buttazzoni - (313) 479-2702