29870 W Twelve Mile Rd APT 705FarmingtonMI48334
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
Investment Highlights
Investment property for sale in Farmington at 29870 W Twelve Mile Rd APT 705, Farmington, MI, 48334 earns $1,162/mo cash flow from $2,616/mo rent with a $832/mo payment. Total monthly income totals $2,616/mo, and annual cash flow totals $13,944/yr on $56,355 capital. ROI tracks 44.65% on current figures, and rental yield reads 18.47% at a $169,999 purchase. Equity gained on principal adds $1,097/yr, and 5% annual appreciation supports $46,968 over five years. Five-year ROI reaches 238.61% and total cumulative return in cash sums $134,469. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,616/mo property income instead of your personal income.
Condo
Built in 1981
6.71 Acres lot
$N/A/sqft
$333 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
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Listed by: Anna Oscar • I Heart Real Estate, LLC
Mls Name: MichRIC
Mls Provider:
Mls ID: #24038447
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2024 MichRIC, LLC. All rights reserved.