702 N Gainsborough AveRoyal OakMI48067
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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 Royal Oak at 702 N Gainsborough Ave, Royal Oak, MI, 48067 priced at $329,800 converts $3,692/mo rent into $1,517/mo cash flow after a $1,614/mo obligation. Total monthly income equals $3,692/mo, and annual cash flow totals $18,208/yr on $109,329 invested. Return on cash invested prints 36.56% in year one, and rental yield reads 13.43% against a $329,800 entry. Equity gained on principal adds $2,128/yr, while 5% annual appreciation compiles into $91,118 by year five. Five-year ROI reaches 192.7% and total cumulative return in cash sums $210,680. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,692/mo property income covering a $1,614/mo payment, not borrower’s personal income.
Single Family
Built in 1943
5,662 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48067, Royal Oak, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,049 (100%) |
| Owner Occupied HU | 8,880 (63.2%) |
| Renter Occupied HU | 4,292 (30.6%) |
| Vacant Housing Units | 877 ( 6.2%) |
| Median Home Value | $361,069 |
| Average Home Value | $423,259 |
Housing Distribution
Address Breakdown
Residential
13,560
Single Family
11,107
Multi-Family
2,453
Businesses
1,047
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