24129 Philip DrSouthfieldMI48075
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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
Rental property for sale in Southfield at 24129 Philip Dr, Southfield, MI, 48075 generates $3,134/mo in rent and, after a $1,615/mo payment, leaves $958/mo in cash flow. Total monthly income is $3,134/mo, and annual cash flow is $11,498/yr on $109,362 invested. Return on cash invested sits at 30.42% in year one, and rental yield is 11.4% on a $329,900 entry. Equity gained on principal adds $2,129/yr, while 5% annual appreciation builds toward $91,145 over five years. Five-year ROI reaches 159.79% and total cumulative return in cash sums $174,747. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,134/mo property income rather than buyer’s personal income.
Single Family
Built in 1970
0.54 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48075, Southfield, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,504 (100%) |
| Owner Occupied HU | 6,113 (58.2%) |
| Renter Occupied HU | 3,727 (35.5%) |
| Vacant Housing Units | 664 ( 6.3%) |
| Median Home Value | $253,171 |
| Average Home Value | $298,568 |
Housing Distribution
Address Breakdown
Residential
10,112
Single Family
6,473
Multi-Family
3,639
Businesses
1,720
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Listed by: Ray Ashley • Coldwell Banker Town & Country
Mls Name: Realcomp II
Mls ID: #20251021098