31690 Joann DrChesterfieldMI48047
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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 Chesterfield at 31690 Joann Dr, Chesterfield, MI, 48047 listed at $230,000 pairs $2,282/mo rent with a $1,126/mo payment to leave $765/mo cash flow. Total monthly income runs $2,282/mo, and annual cash flow reaches $9,180/yr on $76,245 cash to close. Return on cash invested measures 31.95% in year one, and rental yield registers 11.91% at a $230,000 basis. Equity gained on principal adds $1,484/yr, and annual property appreciation at 5% supports $63,545 by year five. Five-year ROI tracks 167.94% and total cumulative return in cash totals $128,047. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,282/mo property income relative to a $1,126/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 1979
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48047, New Baltimore, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,500 (100%) |
| Owner Occupied HU | 13,018 (78.9%) |
| Renter Occupied HU | 2,935 (17.8%) |
| Vacant Housing Units | 547 ( 3.3%) |
| Median Home Value | $331,383 |
| Average Home Value | $354,784 |
Housing Distribution
Address Breakdown
Residential
16,408
Single Family
15,958
Multi-Family
450
Businesses
771
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Listed by: Amy Badke • Spirit Realty Inc
Mls Name: MiRealSource
Mls ID: #50197346