24730 Ridgedale AveOak ParkMI48237
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowDay-one income is the story at 24730 Ridgedale Ave, Oak Park, MI, 48237 in Oak Park. Priced at $267,500, it generates $4,519/mo in gross rent and $2,755/mo in net monthly cash flow, a 20.27% yield that comfortably supports the 3.76 DSCR needed for Ziffy Mortgage's no-W2 DSCR mortgage. Projected annual cash flow: $33,062. Five-year appreciation: $73,905. Equity from principal paydown: $2,464/yr. Total projected cumulative return: $279,216.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 20.3% | 8.5% |
| Monthly Cash Flow | $2,755 | $950 |
City averages based on Oak Park market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $4,519 |
| Total Monthly Debt Service | $1,658 |
| DSCR Ratio | 2.73x |
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 1954
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48237, Oak Park, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,116 (100%) |
| Owner Occupied HU | 7,715 (58.8%) |
| Renter Occupied HU | 4,989 (38.0%) |
| Vacant Housing Units | 412 ( 3.1%) |
| Median Home Value | $202,509 |
| Average Home Value | $243,042 |
Housing Distribution
Address Breakdown
Residential
12,700
Single Family
10,565
Multi-Family
2,135
Businesses
1,307
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 1954
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48237, Oak Park, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,116 (100%) |
| Owner Occupied HU | 7,715 (58.8%) |
| Renter Occupied HU | 4,989 (38.0%) |
| Vacant Housing Units | 412 ( 3.1%) |
| Median Home Value | $202,509 |
| Average Home Value | $243,042 |
Housing Distribution
Address Breakdown
Residential
12,700
Single Family
10,565
Multi-Family
2,135
Businesses
1,307
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices