28601 Iris DrChesterfieldMI48047
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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 Chesterfield at 28601 Iris Dr, Chesterfield, MI, 48047 generates $2,710/mo in rent and, after a $1,909/mo payment, leaves $138/mo in cash flow. Total monthly income is $2,710/mo, and annual cash flow is $1,656/yr on $129,285 invested. Return on cash invested sits at 21.19% in year one, and rental yield is 8.34% on a $390,000 entry. Equity gained on principal adds $2,517/yr, while 5% annual appreciation builds toward $107,750 over five years. Five-year ROI reaches 110.24% and total cumulative return in cash sums $142,520. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,710/mo property income rather than buyer’s personal income.
Single Family
Built in 2003
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48047, New Baltimore, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,500 (100%) |
| Owner Occupied HU | 13,018 (78.9%) |
| Renter Occupied HU | 2,935 (17.8%) |
| Vacant Housing Units | 547 ( 3.3%) |
| Median Home Value | $331,383 |
| Average Home Value | $354,784 |
Housing Distribution
Address Breakdown
Residential
16,408
Single Family
15,958
Multi-Family
450
Businesses
771
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Listed by: April Todd • Century 21 Professionals
Mls Name: MiRealSource
Mls ID: #50184867