68450 Seymour StRichmondMI48062
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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 Richmond at 68450 Seymour St, Richmond, MI, 48062 uses $62,322 cash to close to unlock $2,669/yr annual cash flow and $222/mo monthly cash flow. Total monthly income runs $1,462/mo, and a $920/mo payment keeps the spread at $222/mo. Purchase price stands at $188,000, and rental yield measures 9.33% with $1,462/mo rent. Return on cash invested shows 24.19% in year one, and 5% annual appreciation builds toward $51,941 over five years. Five-year ROI reaches 126.38% and total cumulative return in cash records $78,764. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,462/mo property income covering a $920/mo payment rather than investor’s personal income.
Condo
Built in 1991
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48062, Richmond, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,867 (100%) |
| Owner Occupied HU | 3,051 (78.9%) |
| Renter Occupied HU | 667 (17.2%) |
| Vacant Housing Units | 149 ( 3.9%) |
| Median Home Value | $294,582 |
| Average Home Value | $315,379 |
Housing Distribution
Address Breakdown
Residential
3,838
Single Family
3,610
Multi-Family
228
Businesses
381
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