347 Fairgrove StRomeoMI48065
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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 Romeo at 347 Fairgrove St, Romeo, MI, 48065 uses $67,924 cash to close to unlock $2,780/yr annual cash flow and $232/mo monthly cash flow. Total monthly income runs $1,583/mo, and a $1,003/mo payment keeps the spread at $232/mo. Purchase price stands at $204,900, and rental yield measures 9.27% with $1,583/mo rent. Return on cash invested shows 24% in year one, and 5% annual appreciation builds toward $56,610 over five years. Five-year ROI reaches 125.34% and total cumulative return in cash records $85,138. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,583/mo property income covering a $1,003/mo payment rather than investor’s personal income.
Condo
Built in 1992
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48065, Romeo, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,478 (100%) |
| Owner Occupied HU | 3,593 (80.2%) |
| Renter Occupied HU | 665 (14.9%) |
| Vacant Housing Units | 220 ( 4.9%) |
| Median Home Value | $395,519 |
| Average Home Value | $433,222 |
Housing Distribution
Address Breakdown
Residential
4,668
Single Family
4,621
Multi-Family
47
Businesses
427
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