764 Spencer StFerndaleMI48220
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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 Ferndale at 764 Spencer St, Ferndale, MI, 48220 uses $61,294 cash to close to unlock $2,468/yr annual cash flow and $206/mo monthly cash flow. Total monthly income runs $1,425/mo, and a $905/mo payment keeps the spread at $206/mo. Purchase price stands at $184,900, and rental yield measures 9.25% with $1,425/mo rent. Return on cash invested shows 23.94% in year one, and 5% annual appreciation builds toward $51,084 over five years. Five-year ROI reaches 124.98% and total cumulative return in cash records $76,603. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,425/mo property income covering a $905/mo payment rather than investor’s personal income.
Single Family
Built in 1926
3,920 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48220, Ferndale, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,987 (100%) |
| Owner Occupied HU | 7,505 (62.6%) |
| Renter Occupied HU | 4,002 (33.4%) |
| Vacant Housing Units | 480 ( 4.0%) |
| Median Home Value | $261,162 |
| Average Home Value | $291,163 |
Housing Distribution
Address Breakdown
Residential
11,565
Single Family
10,425
Multi-Family
1,140
Businesses
1,089
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