23102 Alexa DrCommerce TownshipMI48390
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors who value predictability will appreciate 23102 Alexa Dr, Commerce Township, MI, 48390 in Commerce Township. At $310,000 it earns $2,827/mo in rent and distributes $308/mo to the owner after the $1,394/mo payment, a consistent 10.94% yield. DSCR 2.03 clears Ziffy Mortgage's income-only underwriting standard. Over five years, 5% annual appreciation adds $85,647 in value; $2,855/yr in principal paydown compounds ownership stake. Total projected return: $168,444.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.9% | 6.0% |
| Monthly Cash Flow | $308 | $850 |
City averages based on Commerce Township market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,827 |
| Total Monthly Debt Service | $1,921 |
| DSCR Ratio | 1.47x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, 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 2005
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48390, Walled Lake, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,991 (100%) |
| Owner Occupied HU | 8,674 (72.3%) |
| Renter Occupied HU | 2,906 (24.2%) |
| Vacant Housing Units | 411 ( 3.4%) |
| Median Home Value | $342,215 |
| Average Home Value | $420,174 |
Housing Distribution
Address Breakdown
Residential
11,518
Single Family
11,071
Multi-Family
447
Businesses
1,155
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 2005
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48390, Walled Lake, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,991 (100%) |
| Owner Occupied HU | 8,674 (72.3%) |
| Renter Occupied HU | 2,906 (24.2%) |
| Vacant Housing Units | 411 ( 3.4%) |
| Median Home Value | $342,215 |
| Average Home Value | $420,174 |
Housing Distribution
Address Breakdown
Residential
11,518
Single Family
11,071
Multi-Family
447
Businesses
1,155
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Alphonso L Royan • Real Estate One-WB/FH
Mls Name: Realcomp II
Mls ID: #20251048188