2823 Elmhurst AveRoyal OakMI48073
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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 Royal Oak at 2823 Elmhurst Ave, Royal Oak, MI, 48073 generates $4,722/mo in rent, after a $4,038/mo payment. Total monthly income is $4,722/mo. Return on cash invested sits at 16.88% in year one, and rental yield is 6.87% on a $825,000 entry. Equity gained on principal adds $5,324/yr, while 5% annual appreciation builds toward $227,932 over five years. Five-year ROI reaches 87.12% and total cumulative return in cash sums $236,469. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $4,722/mo property income rather than buyer’s personal income.
Single Family
Built in 2016
10,018 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48073, Royal Oak, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,816 (100%) |
| Owner Occupied HU | 12,016 (67.4%) |
| Renter Occupied HU | 4,989 (28.0%) |
| Vacant Housing Units | 811 ( 4.6%) |
| Median Home Value | $342,688 |
| Average Home Value | $386,290 |
Housing Distribution
Address Breakdown
Residential
17,601
Single Family
14,484
Multi-Family
3,117
Businesses
671
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