24692 N Meadow Dr #9/3Harrison TownshipMI48045
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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 Harrison Township at 24692 N Meadow Dr #9/3, Harrison Township, MI, 48045 generates $1,592/mo in rent and, after a $918/mo payment, leaves $355/mo in cash flow. Total monthly income is $1,592/mo, and annual cash flow is $4,263/yr on $62,156 invested. Return on cash invested sits at 26.77% in year one, and rental yield is 10.19% on a $187,500 entry. Equity gained on principal adds $1,210/yr, while 5% annual appreciation builds toward $51,803 over five years. Five-year ROI reaches 140.21% and total cumulative return in cash sums $87,151. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,592/mo property income rather than buyer’s personal income.
Condo
Built in 1982
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48045, Harrison Township, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,362 (100%) |
| Owner Occupied HU | 8,181 (66.2%) |
| Renter Occupied HU | 3,402 (27.5%) |
| Vacant Housing Units | 779 ( 6.3%) |
| Median Home Value | $336,322 |
| Average Home Value | $360,409 |
Housing Distribution
Address Breakdown
Residential
12,285
Single Family
10,343
Multi-Family
1,942
Businesses
383
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Listed by: Bob MacKenzie • Real Estate One Inc -SCS
Mls Name: MiRealSource
Mls ID: #50193839