354 Silman StFerndaleMI48220
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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 Ferndale at 354 Silman St, Ferndale, MI, 48220 offers $1,624/mo rent that, after a $1,199/mo payment, leaves $9/mo cash flow. Total monthly income is $1,624/mo, and annual cash flow is $102/yr on $81,218 cash. Return on cash invested measures 20.03% in year one, and rental yield stands at 7.95% at a $245,000 entry. Equity gained on principal adds $1,581/yr while 5% annual appreciation compounds into $67,689 by year five. Five-year ROI records 104.09% and total cumulative return in cash reaches $84,540. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,624/mo property income versus a $1,199/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1922
5,227 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48220, Ferndale, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,987 (100%) |
| Owner Occupied HU | 7,505 (62.6%) |
| Renter Occupied HU | 4,002 (33.4%) |
| Vacant Housing Units | 480 ( 4.0%) |
| Median Home Value | $261,162 |
| Average Home Value | $291,163 |
Housing Distribution
Address Breakdown
Residential
11,565
Single Family
10,425
Multi-Family
1,140
Businesses
1,089
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