2315 Packard St APT A306Ann ArborMI48104
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe yield at 2315 Packard St APT A306, Ann Arbor, MI, 48104 in Ann Arbor speaks for itself: 19.88% gross on a $192,000 price, generating $3,181/mo in rent and $1,584/mo in net income after the $863/mo debt service. DSCR 3.69, a wide margin that supports Ziffy Mortgage's DSCR loan without any personal income check. Annual cash flow of $19,009 stacks alongside $53,046 in projected five-year appreciation and $1,768/yr in principal reduction. Projected total cumulative return: $176,544.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 19.9% | 5.8% |
| Monthly Cash Flow | $1,584 | $1,250 |
City averages based on Ann Arbor market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,181 |
| Total Monthly Debt Service | $1,521 |
| DSCR Ratio | 2.09x |
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 1963
871.20 sqft lot
$N/A/sqft
$331 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48104, Ann Arbor, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,614 (100%) |
| Owner Occupied HU | 6,482 (34.8%) |
| Renter Occupied HU | 10,844 (58.3%) |
| Vacant Housing Units | 1,288 ( 6.9%) |
| Median Home Value | $496,124 |
| Average Home Value | $616,672 |
Housing Distribution
Address Breakdown
Residential
18,397
Single Family
11,535
Multi-Family
6,862
Businesses
2,114
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 1963
871.20 sqft lot
$N/A/sqft
$331 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48104, Ann Arbor, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,614 (100%) |
| Owner Occupied HU | 6,482 (34.8%) |
| Renter Occupied HU | 10,844 (58.3%) |
| Vacant Housing Units | 1,288 ( 6.9%) |
| Median Home Value | $496,124 |
| Average Home Value | $616,672 |
Housing Distribution
Address Breakdown
Residential
18,397
Single Family
11,535
Multi-Family
6,862
Businesses
2,114
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices