23918 Forest Park Dr ENoviMI48374
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeReliable, bankable, and well-priced, 23918 Forest Park Dr E, Novi, MI, 48374 in Novi delivers $4,609/mo in gross rent and $811/mo in net monthly income at a $575,000 entry. The 9.62% yield and 1.78 DSCR make it a clean candidate for Ziffy Mortgage's DSCR loan; no W-2s or U.S. credit history required. With 5% annual appreciation projecting $158,862 over five years and $5,296/yr in equity from loan paydown, total projected return is $271,615.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.6% | 6.1% |
| Monthly Cash Flow | $811 | $1,200 |
City averages based on Novi market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $4,609 |
| Total Monthly Debt Service | $3,563 |
| DSCR Ratio | 1.29x |
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 1964
0.45 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48374, Novi, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,206 (100%) |
| Owner Occupied HU | 5,357 (86.3%) |
| Renter Occupied HU | 723 (11.7%) |
| Vacant Housing Units | 126 ( 2.0%) |
| Median Home Value | $551,779 |
| Average Home Value | $549,902 |
Housing Distribution
Address Breakdown
Residential
6,194
Single Family
5,652
Multi-Family
542
Businesses
223
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 1964
0.45 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48374, Novi, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,206 (100%) |
| Owner Occupied HU | 5,357 (86.3%) |
| Renter Occupied HU | 723 (11.7%) |
| Vacant Housing Units | 126 ( 2.0%) |
| Median Home Value | $551,779 |
| Average Home Value | $549,902 |
Housing Distribution
Address Breakdown
Residential
6,194
Single Family
5,652
Multi-Family
542
Businesses
223
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices