24606 Ridgeview DrFarmington HillsMI48336
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe 8.26% yield at 24606 Ridgeview Dr, Farmington Hills, MI, 48336 in Farmington Hills is solid, but the $2,293/mo payment compresses net cash flow to $147/mo at $509,999. This is a tight-spread property, income covers debt, with little cushion. For investors who can optimise occupancy, the upside is real: 5% annual appreciation adds $140,903 by year five, and $4,697/yr in loan paydown builds equity. Ziffy Mortgage qualifies this via DSCR (1.53) without U.S. income documentation. Total projected return: $203,746.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.3% | 7.8% |
| Monthly Cash Flow | $147 | $350 |
City averages based on Farmington Hills market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,510 |
| Total Monthly Debt Service | $3,160 |
| DSCR Ratio | 1.11x |
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 1992
0.26 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48336, Farmington, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,033 (100%) |
| Owner Occupied HU | 8,295 (68.9%) |
| Renter Occupied HU | 3,278 (27.2%) |
| Vacant Housing Units | 460 ( 3.8%) |
| Median Home Value | $265,302 |
| Average Home Value | $279,750 |
Housing Distribution
Address Breakdown
Residential
11,759
Single Family
9,433
Multi-Family
2,326
Businesses
932
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 1992
0.26 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48336, Farmington, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,033 (100%) |
| Owner Occupied HU | 8,295 (68.9%) |
| Renter Occupied HU | 3,278 (27.2%) |
| Vacant Housing Units | 460 ( 3.8%) |
| Median Home Value | $265,302 |
| Average Home Value | $279,750 |
Housing Distribution
Address Breakdown
Residential
11,759
Single Family
9,433
Multi-Family
2,326
Businesses
932
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Brittany Randall • Clyde Realty LLC
Mls Name: Realcomp II
Mls ID: #20251056959