24600 Olde Orchard StNoviMI48375
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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 Novi at 24600 Olde Orchard St, Novi, MI, 48375 generates $1,804/mo in rent and, after a $1,120/mo payment, leaves $295/mo in cash flow. Total monthly income is $1,804/mo, and annual cash flow is $3,538/yr on $75,880 invested. Return on cash invested sits at 24.57% in year one, and rental yield is 9.46% on a $228,900 entry. Equity gained on principal adds $1,477/yr, while 5% annual appreciation builds toward $63,241 over five years. Five-year ROI reaches 128.36% and total cumulative return in cash sums $97,401. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,804/mo property income rather than buyer’s personal income.
Condo
Built in 1972
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48375, Novi, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,826 (100%) |
| Owner Occupied HU | 6,602 (67.2%) |
| Renter Occupied HU | 2,777 (28.3%) |
| Vacant Housing Units | 447 ( 4.5%) |
| Median Home Value | $379,223 |
| Average Home Value | $408,715 |
Housing Distribution
Address Breakdown
Residential
9,696
Single Family
8,824
Multi-Family
872
Businesses
1,150
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