69978 Place RdRichmondMI48062
INVESTMENT ANALYSIS
Investment Verdict
Appreciation Play69978 Place Rd, Richmond, MI, 48062 in Richmond is priced for appreciation, not yield. Rental yield 5.2%. At $1,950,000 with a 5.2% gross yield, the monthly income is modest, but 5% annual price growth is projected to add $538,749 in value over five years, making equity the primary return driver. Ziffy Mortgage's DSCR mortgage (0.96) can still finance this property for non-U.S. residents; a 30–35% down payment typically produces the cleanest underwriting for appreciation-focused assets. Total projected cumulative return: $458,913.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 5.2% | 6.5% |
| Monthly Cash Flow | $(4,412) | $220 |
City averages based on Richmond market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $8,447 |
| Total Monthly Debt Service | $12,083 |
| DSCR Ratio | 0.70x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 2007
22.21 Acres 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
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
Single Family
Built in 2007
22.21 Acres 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices