2401 Packard St APT 33DAnn ArborMI48104
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowAt 1.98, 2401 Packard St APT 33D, Ann Arbor, MI, 48104 in Ann Arbor sits at the top of Ziffy Mortgage's DSCR coverage band, a significant advantage for non-U.S. buyers closing without domestic income documentation. Rental yield 10.67%. The 10.67% yield is backed by 5% annual appreciation projecting $54,980 in value gain, plus $1,833/yr in principal reduction. Total projected cumulative return: $73,698.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.7% | 5.8% |
| Monthly Cash Flow | $(68) | $1,250 |
City averages based on Ann Arbor market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,769 |
| Total Monthly Debt Service | $1,758 |
| DSCR Ratio | 1.01x |
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 1967
N/A lot
$N/A/sqft
$525 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 1967
N/A lot
$N/A/sqft
$525 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
Listed by: Yesmeen Abdullatif • The Home Company
Mls Name: Realcomp II
Mls Provider:
Mls ID: #20250023421
Disclaimer: IDX provided courtesy of Realcomp II Ltd. via Zillow, Inc and MLS Copyright 2025 Realcomp II Ltd. Shareholders IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. The data relating to real estate properties on this website was last updated as recently as 2025-04-08 07:51:20 PDT Listing Information presented by local MLS brokerage: Zillow, Inc., REALTOR- Lauren Buttazzoni - (313) 479-2702