24308 Sheringham DrSouth LyonMI48178
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowIf cash-on-cash performance is your primary filter, 24308 Sheringham Dr, South Lyon, MI, 48178 in South Lyon deserves attention. This $625,000 property earns $6,301/mo in rent, a 12.1% gross yield, and nets $2,134/mo after the $2,810/mo payment. DSCR 2.24 makes it one of the cleaner DSCR underwriting candidates Ziffy Mortgage sees in this market. Five-year appreciation of $172,676 compounds alongside $5,756/yr in yearly equity build, for a total cumulative return of $375,634.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 12.1% | 7.0% |
| Monthly Cash Flow | $2,134 | $850 |
City averages based on South Lyon market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $6,301 |
| Total Monthly Debt Service | $3,919 |
| DSCR Ratio | 1.61x |
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 2016
0.32 Acres lot
$N/A/sqft
$550 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48178, South Lyon, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,935 (100%) |
| Owner Occupied HU | 12,984 (86.9%) |
| Renter Occupied HU | 1,470 ( 9.8%) |
| Vacant Housing Units | 481 ( 3.2%) |
| Median Home Value | $415,202 |
| Average Home Value | $441,574 |
Housing Distribution
Address Breakdown
Residential
15,206
Single Family
14,806
Multi-Family
400
Businesses
662
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 2016
0.32 Acres lot
$N/A/sqft
$550 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48178, South Lyon, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,935 (100%) |
| Owner Occupied HU | 12,984 (86.9%) |
| Renter Occupied HU | 1,470 ( 9.8%) |
| Vacant Housing Units | 481 ( 3.2%) |
| Median Home Value | $415,202 |
| Average Home Value | $441,574 |
Housing Distribution
Address Breakdown
Residential
15,206
Single Family
14,806
Multi-Family
400
Businesses
662
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices