24231 Norway Rd #231ChelseaMI48118
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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 24231 Norway Rd #231, Chelsea, MI, 48118 uses $46,408 cash to close to unlock $1,764/yr annual cash flow and $147/mo monthly cash flow. Total monthly income runs $1,070/mo, and a $685/mo payment keeps the spread at $147/mo. Purchase price stands at $139,995, and rental yield measures 9.17% with $1,070/mo rent. Return on cash invested shows 23.71% in year one, and 5% annual appreciation builds toward $38,678 over five years. Five-year ROI reaches 123.85% and total cumulative return in cash records $57,477. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,070/mo property income covering a $685/mo payment rather than investor’s personal income.
Manufactured
Built in 2025
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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