27430 Evergreen Rd #36Lathrup VillageMI48076
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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
Investment property for sale in Lathrup Village at 27430 Evergreen Rd #36, Lathrup Village, MI, 48076 uses $48,068 cash to close to unlock $2,310/yr annual cash flow and $193/mo monthly cash flow. Total monthly income runs $1,149/mo, and a $710/mo payment keeps the spread at $193/mo. Purchase price stands at $145,000, and rental yield measures 9.51% with $1,149/mo rent. Return on cash invested shows 24.71% in year one, and 5% annual appreciation builds toward $40,061 over five years. Five-year ROI reaches 129.21% and total cumulative return in cash records $62,108. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,149/mo property income covering a $710/mo payment rather than investor’s personal income.
Condo
Built in 1985
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48076, Southfield, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,404 (100%) |
| Owner Occupied HU | 8,138 (71.4%) |
| Renter Occupied HU | 2,845 (24.9%) |
| Vacant Housing Units | 421 ( 3.7%) |
| Median Home Value | $263,247 |
| Average Home Value | $282,492 |
Housing Distribution
Address Breakdown
Residential
11,096
Single Family
9,196
Multi-Family
1,900
Businesses
1,364
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Listed by: Latrecia Gardner • KIM Realtors Inc
Mls Name: MichRIC
Mls ID: #25018768