23402 Cranbrooke DrNoviMI48375
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowIf cash-on-cash performance is your primary filter, 23402 Cranbrooke Dr, Novi, MI, 48375 in Novi deserves attention. This $324,000 property earns $3,530/mo in rent, a 13.08% gross yield, and nets $1,368/mo after the $1,457/mo payment. DSCR 2.42 makes it one of the cleaner DSCR underwriting candidates Ziffy Mortgage sees in this market. Five-year appreciation of $89,515 compounds alongside $2,984/yr in yearly equity build, for a total cumulative return of $211,573.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 13.1% | 6.1% |
| Monthly Cash Flow | $1,368 | $1,200 |
City averages based on Novi market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,530 |
| Total Monthly Debt Service | $2,033 |
| DSCR Ratio | 1.74x |
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.
Single Family
Built in 1975
9,583 sqft lot
$N/A/sqft
$306 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48375, Novi, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,826 (100%) |
| Owner Occupied HU | 6,602 (67.2%) |
| Renter Occupied HU | 2,777 (28.3%) |
| Vacant Housing Units | 447 ( 4.5%) |
| Median Home Value | $379,223 |
| Average Home Value | $408,715 |
Housing Distribution
Address Breakdown
Residential
9,696
Single Family
8,824
Multi-Family
872
Businesses
1,150
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
Single Family
Built in 1975
9,583 sqft lot
$N/A/sqft
$306 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48375, Novi, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,826 (100%) |
| Owner Occupied HU | 6,602 (67.2%) |
| Renter Occupied HU | 2,777 (28.3%) |
| Vacant Housing Units | 447 ( 4.5%) |
| Median Home Value | $379,223 |
| Average Home Value | $408,715 |
Housing Distribution
Address Breakdown
Residential
9,696
Single Family
8,824
Multi-Family
872
Businesses
1,150
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices