211 E Nine Mile Rd UNIT 216FerndaleMI48220
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeA DSCR of 1.58 makes 211 E Nine Mile Rd UNIT 216, Ferndale, MI, 48220 in Ferndale one of the easier properties to finance via Ziffy Mortgage's rental-income underwriting. Rental yield 8.55%. The 8.55% yield, 5% annual appreciation ($110,485 over five years), and $3,683/yr in principal reduction project a total cumulative return of $137,293.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.6% | 8.0% |
| Monthly Cash Flow | $(267) | $450 |
City averages based on Ferndale market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,849 |
| Total Monthly Debt Service | $2,956 |
| DSCR Ratio | 0.96x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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.
Condo
Built in 2008
N/A lot
$N/A/sqft
$293 monthly 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
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
Condo
Built in 2008
N/A lot
$N/A/sqft
$293 monthly 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: James M Horn • KW Domain
Mls Name: Realcomp II
Mls Provider:
Mls ID: #20250030222
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 2025-10-30 22:48:11 PDT Listing Information presented by local MLS brokerage: Zillow, Inc., REALTOR- Lauren Buttazzoni - (313) 479-2702