2362 Garfield StFerndaleMI48220
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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 Ferndale at 2362 Garfield St, Ferndale, MI, 48220 listed at $315,000 pairs $2,221/mo rent with a $1,542/mo payment to leave $144/mo cash flow. Total monthly income runs $2,221/mo, and annual cash flow reaches $1,722/yr on $104,423 cash to close. Return on cash invested measures 21.56% in year one, and rental yield registers 8.46% at a $315,000 basis. Equity gained on principal adds $2,033/yr, and annual property appreciation at 5% supports $87,029 by year five. Five-year ROI tracks 112.23% and total cumulative return in cash totals $117,197. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,221/mo property income relative to a $1,542/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1998
3,920 sqft lot
$N/A/sqft
No 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
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