662 Purdy St APT 105BirminghamMI48009
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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 Birmingham at 662 Purdy St APT 105, Birmingham, MI, 48009 generates $2,597/mo in rent, after a $1,708/mo payment. Total monthly income is $2,597/mo. Return on cash invested sits at 19.04% in year one, and rental yield is 8.93% on a $349,000 entry. Equity gained on principal adds $2,252/yr, while 5% annual appreciation builds toward $96,422 over five years. Five-year ROI reaches 100.16% and total cumulative return in cash sums $115,884. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,597/mo property income rather than buyer’s personal income.
Condo
Built in 1978
N/A lot
$N/A/sqft
$379 monthly 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
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Listed by: Jennifer Schilp • Good Company
Mls Name: Realcomp II
Mls Provider:
Mls ID: #20251038826
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