411 S Old Woodward Ave UNIT 824BirminghamMI48009
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
Rental property for sale in Birmingham at 411 S Old Woodward Ave UNIT 824, Birmingham, MI, 48009 generates $2,436/mo in rent, after a $3,157/mo payment. Total monthly income is $2,436/mo. Return on cash invested sits at 9.78% in year one, and rental yield is 4.53% on a $645,000 entry. Equity gained on principal adds $4,162/yr, while 5% annual appreciation builds toward $178,202 over five years. Five-year ROI reaches 49.05% and total cumulative return in cash sums $104,080. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,436/mo property income rather than buyer’s personal income.
Condo
Built in 1981
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48009, Birmingham, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,431 (100%) |
| Owner Occupied HU | 7,480 (71.7%) |
| Renter Occupied HU | 2,150 (20.6%) |
| Vacant Housing Units | 801 ( 7.7%) |
| Median Home Value | $710,938 |
| Average Home Value | $834,383 |
Housing Distribution
Address Breakdown
Residential
9,856
Single Family
8,145
Multi-Family
1,711
Businesses
1,293
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Nicki Rosin Perlman • Cedarwood Realty LLC, a Michigan LLC
Mls Name: Realcomp II
Mls ID: #20251053242