28715 Somerset PlLathrup VillageMI48076
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThis is a cash-flow-light asset: 28715 Somerset Pl, Lathrup Village, MI, 48076 in Lathrup Village, $372,000, 9.32% gross yield, $192/mo net income. Consider it a market-entry position, the $2,890/mo rent covers the $1,673/mo payment with a margin, and 5%/yr appreciation is projected to add $102,777 to the asset's value over five years. Ziffy Mortgage approves DSCR loans (coverage 1.73) for non-U.S. residents without domestic income documentation. Consider a higher down payment to widen the monthly margin. Total projected return: $155,179.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.3% | 6.5% |
| Monthly Cash Flow | $192 | $350 |
City averages based on Lathrup Village market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,890 |
| Total Monthly Debt Service | $2,550 |
| DSCR Ratio | 1.13x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, 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.
Single Family
Built in 1951
0.36 Acres 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
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
Single Family
Built in 1951
0.36 Acres 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Michael Weinraub • Vantage Realty Group, LLC
Mls Name: MichRIC
Mls Provider:
Mls ID: #25039071
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2025 MichRIC, LLC. All rights reserved.