40618 Lenox Park DrNoviMI48377
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 Novi at 40618 Lenox Park Dr, Novi, MI, 48377 earns from $2,986/mo rent with a $2,129/mo payment. Total monthly income totals $2,986/mo. ROI tracks 17.56% on current figures, and rental yield reads 8.24% at a $435,000 purchase. Equity gained on principal adds $2,807/yr, and 5% annual appreciation supports $120,182 over five years. Five-year ROI reaches 92% and total cumulative return in cash sums $132,660. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,986/mo property income instead of your personal income.
Condo
Built in 2012
N/A lot
$N/A/sqft
$400 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48377, Novi, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,627 (100%) |
| Owner Occupied HU | 4,579 (43.1%) |
| Renter Occupied HU | 5,495 (51.7%) |
| Vacant Housing Units | 553 ( 5.2%) |
| Median Home Value | $371,899 |
| Average Home Value | $391,096 |
Housing Distribution
Address Breakdown
Residential
9,525
Single Family
6,532
Multi-Family
2,993
Businesses
735
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Kevin P. Brennan • Sine & Monaghan LLC
Mls Name: MiRealSource
Mls Provider:
Mls ID: #50194254
Disclaimer: Source MLS: MiRealSource Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource. The information published and disseminated by MiRealSource is communicated verbatim, without change by MiRealSource, as filed with MiRealSource by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Copyright 2025 MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc. [Click here for more information](/mls-disclaimers/#261)