30515 W Forteen Mile Rd APT 30FarmingtonMI48334
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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
Rental property for sale in Farmington at 30515 W Forteen Mile Rd APT 30, Farmington, MI, 48334 generates $915/mo in rent and, after a $573/mo payment, leaves $143/mo in cash flow. Total monthly income is $915/mo, and annual cash flow is $1,717/yr on $38,786 invested. Return on cash invested sits at 24.34% in year one, and rental yield is 9.38% on a $117,000 entry. Equity gained on principal adds $755/yr, while 5% annual appreciation builds toward $32,325 over five years. Five-year ROI reaches 127.23% and total cumulative return in cash sums $49,345. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $915/mo property income rather than buyer’s personal income.
Condo
Built in 1979
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: Sam Amona • New Michigan Realty, LLC
Mls Name: Realcomp II
Mls ID: #20261001220