28574 Newport StFarmington HillsMI48331
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
Investment Highlights
Rental property for sale in Farmington Hills at 28574 Newport St, Farmington Hills, MI, 48331 generates $5,099/mo in rent and, after a $2,178/mo payment, leaves $2,140/mo in cash flow. Total monthly income is $5,099/mo, and annual cash flow is $25,679/yr on $147,484 invested. Return on cash invested sits at 37.32% in year one, and rental yield is 13.75% on a $444,900 entry. Equity gained on principal adds $2,871/yr, while 5% annual appreciation builds toward $122,918 over five years. Five-year ROI reaches 196.8% and total cumulative return in cash sums $290,245. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $5,099/mo property income rather than buyer’s personal income.
Single Family
Built in 1978
9,147 sqft lot
$N/A/sqft
$297 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48331, Farmington, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,690 (100%) |
| Owner Occupied HU | 6,988 (80.4%) |
| Renter Occupied HU | 1,402 (16.1%) |
| Vacant Housing Units | 300 ( 3.5%) |
| Median Home Value | $400,025 |
| Average Home Value | $433,616 |
Housing Distribution
Address Breakdown
Residential
8,873
Single Family
7,971
Multi-Family
902
Businesses
432
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Nearby investment properties with comparable prices
Listed by: Shauna Korn • Townsend Realty LLC
Mls Name: MichRIC
Mls Provider:
Mls ID: #24046266
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2024 MichRIC, LLC. All rights reserved.