31232 Columbia Dr #1NoviMI48377
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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 Novi at 31232 Columbia Dr #1, Novi, MI, 48377 offers a 10.77% rental yield on a $327,000 purchase with $2,935/mo rent. Total monthly income registers $2,935/mo, and a $1,601/mo payment leaves $398/mo available for distribution. Annual cash flow reaches $4,777/yr on $108,401 to close, and return on cash invested stands at 24.32% in year one. Equity gained on principal adds $2,110/yr while 5% annual appreciation supports $90,344 over five years. Portfolio math shows five-year ROI at 128.57% and total cumulative return in cash at $139,373. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,935/mo property income against a $1,601/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1990
N/A lot
$N/A/sqft
$380 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48377, Novi, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,627 (100%) |
| Owner Occupied HU | 4,579 (43.1%) |
| Renter Occupied HU | 5,495 (51.7%) |
| Vacant Housing Units | 553 ( 5.2%) |
| Median Home Value | $371,899 |
| Average Home Value | $391,096 |
Housing Distribution
Address Breakdown
Residential
9,525
Single Family
6,532
Multi-Family
2,993
Businesses
735
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Listed by: Chris M Banchoff • RE/MAX Home Sale Services
Mls Name: Realcomp II
Mls Provider:
Mls ID: #20240060937
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