31915 W Forteen Mile Rd #247DOOR-BFarmingtonMI48334
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 31915 W Forteen Mile Rd #247DOOR-B, Farmington, MI, 48334 offers a 9.43% rental yield on a $195,000 purchase with $1,532/mo rent. Total monthly income registers $1,532/mo, and a $954/mo payment leaves $247/mo available for distribution. Annual cash flow reaches $2,958/yr on $64,643 to close, and return on cash invested stands at 24.48% in year one. Equity gained on principal adds $1,258/yr while 5% annual appreciation supports $53,875 over five years. Portfolio math shows five-year ROI at 127.96% and total cumulative return in cash at $82,714. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,532/mo property income against a $954/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1974
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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Margo A Borkin • Real Estate One-WB/FH
Mls Name: Realcomp II
Mls ID: #20261003432