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Price: $300K - 500K
Monthly Cash Flow: $1 - $3k+
Home Type: Single Family
Condo Investment Properties for Sale in Novi, MI
Listed for sale 6 days ago
$ 429,900
ROI
26.1
Cash Flow/m
763- 4 Bed
- 4 Bath
- 2618 sft
43470 Algonquin Dr, Novi, MI, 48375
$ 380,000
ROI
24.0Cash Flow/m
446- 3 Bed
- 3 Bath
- 2300 sft
29348 Douglas Dr, Novi, MI, 48377
$ 369,000
ROI
21.4Cash Flow/m
172- 3 Bed
- 3 Bath
- 1520 sft
27971 Middleton Dr, Novi, MI, 48377
$ 399,900
ROI
23.5Cash Flow/m
411- 3 Bed
- 3 Bath
- 2200 sft
41785 Independence Dr, Novi, MI, 48377
Why Invest in Novi, Michigan?
Investing in condos in Novi, MI offers a promising opportunity for real estate investors focusing on growing suburban markets. The average rental yield of 7% and a cap rate of 5.5% reflect a healthy income stream. Novi's average ROI for condos stands at 6.8%, supported by a stable renter-occupied rate of 58%. With appreciation rates around 3% annually, condos in this city provide solid cash flow potential amid steady population growth.
6.8%
Avg. ROI
7%
Rental Yield
5.5%
Cap Rate
$600/mo
Avg. Cash Flow
$1400/mo
Avg. Rent
3%
1Y Appreciation
Frequently Asked Questions
The average rental yield for condos in Novi is approximately 7%, making it a solid choice for income-focused real estate investors.
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