24151 Norway Rd #151ChelseaMI48118
Nearby investment properties with comparable rents
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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 Chelsea at 24151 Norway Rd #151, Chelsea, MI, 48118 offers a 9.11% rental yield on a $129,995 purchase with $987/mo rent. Total monthly income registers $987/mo, and a $636/mo payment leaves $130/mo available for distribution. Annual cash flow reaches $1,560/yr on $43,093 to close, and return on cash invested stands at 23.53% in year one. Equity gained on principal adds $839/yr while 5% annual appreciation supports $35,915 over five years. Portfolio math shows five-year ROI at 122.92% and total cumulative return in cash at $52,969. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $987/mo property income against a $636/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Manufactured
Built in 2026
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48118, Chelsea, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,643 (100%) |
| Owner Occupied HU | 4,566 (80.9%) |
| Renter Occupied HU | 713 (12.6%) |
| Vacant Housing Units | 364 ( 6.5%) |
| Median Home Value | $387,800 |
| Average Home Value | $457,408 |
Housing Distribution
Address Breakdown
Residential
5,786
Single Family
5,385
Multi-Family
401
Businesses
575
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