24025 Drake RdFarmingtonMI48335
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowDay-one income is the story at 24025 Drake Rd, Farmington, MI, 48335 in Farmington. Priced at $449,900, it generates $5,112/mo in gross rent and $2,145/mo in net monthly cash flow, a 13.64% yield that comfortably supports the 2.53 DSCR needed for Ziffy Mortgage's no-W2 DSCR mortgage. Projected annual cash flow: $25,742. Five-year appreciation: $124,299. Equity from principal paydown: $4,144/yr. Total projected cumulative return: $309,471.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 13.6% | 7.2% |
| Monthly Cash Flow | $2,145 | $450 |
City averages based on Farmington market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $5,112 |
| Total Monthly Debt Service | $2,788 |
| DSCR Ratio | 1.83x |
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 1925
1.23 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48335, Farmington, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,258 (100%) |
| Owner Occupied HU | 5,085 (38.4%) |
| Renter Occupied HU | 7,499 (56.6%) |
| Vacant Housing Units | 674 ( 5.1%) |
| Median Home Value | $368,504 |
| Average Home Value | $391,347 |
Housing Distribution
Address Breakdown
Residential
11,018
Single Family
7,839
Multi-Family
3,179
Businesses
739
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 1925
1.23 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48335, Farmington, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,258 (100%) |
| Owner Occupied HU | 5,085 (38.4%) |
| Renter Occupied HU | 7,499 (56.6%) |
| Vacant Housing Units | 674 ( 5.1%) |
| Median Home Value | $368,504 |
| Average Home Value | $391,347 |
Housing Distribution
Address Breakdown
Residential
11,018
Single Family
7,839
Multi-Family
3,179
Businesses
739
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices