715 Cape Cod #1South LyonMI48178
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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 South Lyon at 715 Cape Cod #1, South Lyon, MI, 48178 uses $72,930 cash to close to unlock $6,636/yr annual cash flow and $553/mo monthly cash flow. Total monthly income runs $2,004/mo, and a $1,077/mo payment keeps the spread at $553/mo. Purchase price stands at $220,000, and rental yield measures 10.93% with $2,004/mo rent. Return on cash invested shows 29.01% in year one, and 5% annual appreciation builds toward $60,782 over five years. Five-year ROI reaches 152.17% and total cumulative return in cash records $110,975. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,004/mo property income covering a $1,077/mo payment rather than investor’s personal income.
Condo
Built in 1979
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48178, South Lyon, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,935 (100%) |
| Owner Occupied HU | 12,984 (86.9%) |
| Renter Occupied HU | 1,470 ( 9.8%) |
| Vacant Housing Units | 481 ( 3.2%) |
| Median Home Value | $415,202 |
| Average Home Value | $441,574 |
Housing Distribution
Address Breakdown
Residential
15,206
Single Family
14,806
Multi-Family
400
Businesses
662
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Listed by: Aaren D Currie • NextHome Statewide Real Estate
Mls Name: Realcomp II
Mls ID: #20251061869