424 Little Lake Dr APT 31Ann ArborMI48103
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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 Ann Arbor at 424 Little Lake Dr APT 31, Ann Arbor, MI, 48103 uses $84,533 cash to close to unlock $3,858/yr annual cash flow and $322/mo monthly cash flow. Total monthly income runs $2,353/mo, and a $1,248/mo payment keeps the spread at $322/mo. Purchase price stands at $255,000, and rental yield measures 11.07% with $2,353/mo rent. Return on cash invested shows 24.47% in year one, and 5% annual appreciation builds toward $70,452 over five years. Five-year ROI reaches 129.67% and total cumulative return in cash records $109,616. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,353/mo property income covering a $1,248/mo payment rather than investor’s personal income.
Condo
Built in 1998
5,663 sqft lot
$N/A/sqft
$350 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48103, Ann Arbor, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 26,175 (100%) |
| Owner Occupied HU | 16,858 (64.4%) |
| Renter Occupied HU | 7,745 (29.6%) |
| Vacant Housing Units | 1,572 ( 6.0%) |
| Median Home Value | $465,693 |
| Average Home Value | $509,229 |
Housing Distribution
Address Breakdown
Residential
25,905
Single Family
22,174
Multi-Family
3,731
Businesses
1,545
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