2580 SQ FT Concept Plan, TERRANoviMI48374
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayAt a 4.65% gross rental yield, 2580 SQ FT Concept Plan, TERRA, Novi, MI, 48374 in Novi is priced for capital growth, not immediate cash flow. The $1,232,500 purchase reflects market confidence in future value: at 5%/yr, the property is forecast to gain $340,517 by year five, with $11,351/yr in additional equity from loan paydown. Ziffy Mortgage's DSCR mortgage (0.86) qualifies for non-U.S. residents without personal income documents. Total five-year projected cumulative return: $223,101.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 4.7% | 6.1% |
| Monthly Cash Flow | $(3,864) | $1,200 |
City averages based on Novi market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $4,774 |
| Total Monthly Debt Service | $8,147 |
| DSCR Ratio | 0.59x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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.
Condo
Built in 2025
N/A lot
$N/A/sqft
$510 monthly 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 |
Housing Distribution
Address Breakdown
Residential
6,194
Single Family
5,652
Multi-Family
542
Businesses
223
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
Condo
Built in 2025
N/A lot
$N/A/sqft
$510 monthly 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 |
Housing Distribution
Address Breakdown
Residential
6,194
Single Family
5,652
Multi-Family
542
Businesses
223
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
