350 N Main St UNIT 812Royal OakMI48067
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeSolid, durable, and financeable, 350 N Main St UNIT 812, Royal Oak, MI, 48067 in Royal Oak earns a 9.78% gross yield at $386,300. Rent of $3,149/mo nets $601/mo after the $1,737/mo mortgage. The 1.81 DSCR signals clean DSCR underwriting through Ziffy Mortgage, with no personal income verification required. Five-year value growth of $106,728 and $3,558/yr in equity accumulation project a total cumulative return of $185,903.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.8% | 7.0% |
| Monthly Cash Flow | $601 | $1,200 |
City averages based on Royal Oak market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,149 |
| Total Monthly Debt Service | $2,394 |
| DSCR Ratio | 1.32x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Apartment
Built in 2006
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
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
Apartment
Built in 2006
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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices