75205 Memphis Ridge RdRichmondMI48062
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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 Richmond at 75205 Memphis Ridge Rd, Richmond, MI, 48062 generates $1,499/mo in rent, after a $2,080/mo payment. Total monthly income is $1,499/mo. Return on cash invested sits at 8.81% in year one, and rental yield is 4.23% on a $425,000 entry. Equity gained on principal adds $2,742/yr, while 5% annual appreciation builds toward $117,420 over five years. Five-year ROI reaches 43.84% and total cumulative return in cash sums $61,769. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,499/mo property income rather than buyer’s personal income.
Single Family
Built in 1987
1.50 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
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