24609 Redwing Dr, Novi, MI, 48374 | 7.4% Rental Yield

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Total monthly income runs $3,794/mo, and a $3,010/mo payment. Purchase price stands at $615,000, and rental yield measures 7.4% with $3,794/mo rent. Return on cash invested shows 18.44% in year one, and 5% annual appreciation builds toward $169,913 over five years. Five-year ROI reaches 95.46% and total cumulative return in cash records $193,145. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,794/mo property income covering a $3,010/mo payment rather than investor’s personal income.

Single Family

Built in 1989

10,018 sqft lot

$N/A/sqft

$150 annually HOA

Neighborhood Data

Neighborhood data shown for ZIP Code: 48374, Novi, MI area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	6,206 (100%)
Owner Occupied HU	5,357 (86.3%)
Renter Occupied HU	723 (11.7%)
Vacant Housing Units	126 ( 2.0%)
Median Home Value	$551,779
Average Home Value	$549,902