24635 Ridgeview DrFarmington HillsMI48336
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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
Investment Highlights
Investment property for sale in Farmington Hills at 24635 Ridgeview Dr, Farmington Hills, MI, 48336 offers a 7.67% rental yield on a $550,000 purchase with $3,517/mo rent. 33% in year one. Equity gained on principal adds $3,549/yr while 5% annual appreciation supports $151,955 over five years. Portfolio math shows five-year ROI at 100.23% and total cumulative return in cash at $181,366. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,517/mo property income against a $2,692/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1992
0.33 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
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Nearby investment properties with comparable prices
Listed by: Karen Greenwood • Coldwell Banker Professionals
Mls Name: MichRIC
Mls Provider:
Mls ID: #25000896
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2024 MichRIC, LLC. All rights reserved.