29470 Cove Creek LnFarmingtonMI48334
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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 Farmington at 29470 Cove Creek Ln, Farmington, MI, 48334 uses $89,472 cash to close to unlock $5,990/yr annual cash flow and $499/mo monthly cash flow. Total monthly income runs $2,279/mo, and a $1,321/mo payment keeps the spread at $499/mo. Purchase price stands at $269,900, and rental yield measures 10.13% with $2,279/mo rent. Return on cash invested shows 26.6% in year one, and 5% annual appreciation builds toward $74,568 over five years. Five-year ROI reaches 139.32% and total cumulative return in cash records $124,650. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,279/mo property income covering a $1,321/mo payment rather than investor’s personal income.
Condo
Built in 1989
N/A lot
$N/A/sqft
No 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
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Listed by: Derek N Sanchez • 616 Realty LLC
Mls Name: MichRIC
Mls ID: #25057618