6620 Red Cedar LnWest BloomfieldMI48324
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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 West Bloomfield at 6620 Red Cedar Ln, West Bloomfield, MI, 48324 priced at $338,900 converts $2,974/mo rent into $739/mo cash flow after a $1,659/mo obligation. Total monthly income equals $2,974/mo, and annual cash flow totals $8,866/yr on $112,345 invested. Return on cash invested prints 27.8% in year one, and rental yield reads 10.53% against a $338,900 entry. Equity gained on principal adds $2,187/yr, while 5% annual appreciation compiles into $93,632 by year five. Five-year ROI reaches 145.69% and total cumulative return in cash sums $163,677. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,974/mo property income covering a $1,659/mo payment, not borrower’s personal income.
Condo
Built in 1976
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48324, West Bloomfield, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,849 (100%) |
| Owner Occupied HU | 6,146 (89.7%) |
| Renter Occupied HU | 443 ( 6.5%) |
| Vacant Housing Units | 260 ( 3.8%) |
| Median Home Value | $446,353 |
| Average Home Value | $604,847 |
Housing Distribution
Address Breakdown
Residential
6,618
Single Family
6,446
Multi-Family
172
Businesses
57
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Listed by: Andrew S Tymrak • RE/MAX First
Mls Name: Realcomp II
Mls ID: #20251056171