29465 N MeadowridgeFarmingtonMI48334
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors targeting immediate dollar income will find 29465 N Meadowridge, Farmington, MI, 48334 in Farmington hard to pass up. The 11.74% gross yield on a $359,900 purchase results in $3,520/mo in rent and $746/mo in net cash, well above the spread required for Ziffy Mortgage's DSCR qualification (2.18). Annual cash flow of $8,955, five-year appreciation of $99,434, and $3,315/yr in equity build-up combine for a projected total cumulative return of $186,954.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.7% | 7.2% |
| Monthly Cash Flow | $746 | $450 |
City averages based on Farmington market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,520 |
| Total Monthly Debt Service | $2,630 |
| DSCR Ratio | 1.34x |
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.
Condo
Built in 1991
N/A lot
$N/A/sqft
$400 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48334, Farmington, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,410 (100%) |
| Owner Occupied HU | 5,175 (61.5%) |
| Renter Occupied HU | 2,716 (32.3%) |
| Vacant Housing Units | 519 ( 6.2%) |
| Median Home Value | $342,899 |
| Average Home Value | $374,387 |
Housing Distribution
Address Breakdown
Residential
7,976
Single Family
5,409
Multi-Family
2,567
Businesses
1,380
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
Condo
Built in 1991
N/A lot
$N/A/sqft
$400 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48334, Farmington, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,410 (100%) |
| Owner Occupied HU | 5,175 (61.5%) |
| Renter Occupied HU | 2,716 (32.3%) |
| Vacant Housing Units | 519 ( 6.2%) |
| Median Home Value | $342,899 |
| Average Home Value | $374,387 |
Housing Distribution
Address Breakdown
Residential
7,976
Single Family
5,409
Multi-Family
2,567
Businesses
1,380
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices