322 E Harrison Ave UNIT 1Royal OakMI48067
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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 Royal Oak at 322 E Harrison Ave UNIT 1, Royal Oak, MI, 48067 generates $3,236/mo in rent and, after a $2,031/mo payment, leaves $500/mo in cash flow. Total monthly income is $3,236/mo, and annual cash flow is $5,996/yr on $137,539 invested. Return on cash invested sits at 24.27% in year one, and rental yield is 9.36% on a $414,900 entry. Equity gained on principal adds $2,677/yr, while 5% annual appreciation builds toward $114,629 over five years. Five-year ROI reaches 126.75% and total cumulative return in cash sums $174,326. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,236/mo property income rather than buyer’s personal income.
Condo
Built in 2005
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48067, Royal Oak, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,049 (100%) |
| Owner Occupied HU | 8,880 (63.2%) |
| Renter Occupied HU | 4,292 (30.6%) |
| Vacant Housing Units | 877 ( 6.2%) |
| Median Home Value | $361,069 |
| Average Home Value | $423,259 |
Housing Distribution
Address Breakdown
Residential
13,560
Single Family
11,107
Multi-Family
2,453
Businesses
1,047
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