293 Fielding StFerndaleMI48220
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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 Ferndale at 293 Fielding St, Ferndale, MI, 48220 with 5% annual appreciation on a $224,900 basis while $1,591/mo rent supports operations. Total monthly income totals $1,591/mo and a $1,101/mo payment preserves $108/mo for cash returns. Annual cash flow comes to $1,292/yr on $74,554 deployed, and return on cash invested reaches 21.64% in year one. Equity gained on principal adds $1,451/yr, and five-year appreciation sums $62,136 alongside rental yield of 8.49%. Five-year ROI measures 112.69% and total cumulative return in cash totals $84,013.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $1,591/mo property income versus a $1,101/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Single Family
Built in 1923
4,356 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48220, Ferndale, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,987 (100%) |
| Owner Occupied HU | 7,505 (62.6%) |
| Renter Occupied HU | 4,002 (33.4%) |
| Vacant Housing Units | 480 ( 4.0%) |
| Median Home Value | $261,162 |
| Average Home Value | $291,163 |
Housing Distribution
Address Breakdown
Residential
11,565
Single Family
10,425
Multi-Family
1,140
Businesses
1,089
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