2240 Garfield RdAuburnMI48611
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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 Auburn at 2240 Garfield Rd, Auburn, MI, 48611 uses $102,599 cash to close to unlock $5,290/yr annual cash flow and $441/mo monthly cash flow. Total monthly income runs $2,482/mo, and a $1,515/mo payment keeps the spread at $441/mo. Purchase price stands at $309,500, and rental yield measures 9.62% with $2,482/mo rent. Return on cash invested shows 25.07% in year one, and 5% annual appreciation builds toward $85,509 over five years. Five-year ROI reaches 131.02% and total cumulative return in cash records $134,430. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,482/mo property income covering a $1,515/mo payment rather than investor’s personal income.
Single Family
Built in 1978
1 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48611, Auburn, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,776 (100%) |
| Owner Occupied HU | 2,219 (79.9%) |
| Renter Occupied HU | 438 (15.8%) |
| Vacant Housing Units | 119 ( 4.3%) |
| Median Home Value | $185,374 |
| Average Home Value | $211,304 |
Housing Distribution
Address Breakdown
Residential
2,755
Single Family
2,715
Multi-Family
40
Businesses
210
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Listed by: Denise Vinson • Century 21 Signature Realty Midland
Mls Name: MIDMLS
Mls Provider:
Mls ID: #50184651
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.