Condo Investment Properties for Sale in Novi, MI
Listed for sale 3 days ago
$ 414,900
ROI
24.3
Cash Flow/m
527- 2 Bed
- 3 Bath
- 2628 sft
24597 Edgewood Dr, Novi, MI, 48374
Listed for sale 7 days ago
$ 380,000
ROI
24.7Cash Flow/m
525- 3 Bed
- 4 Bath
- 3447 sft
30836 Golden Rdg, Novi, MI, 48377
$ 289,000
ROI
27.3Cash Flow/m
609- 3 Bed
- 3 Bath
- 1924 sft
30900 Jasper Rdg, Novi, MI, 48377
$ 439,900
ROI
24.3Cash Flow/m
552- 4 Bed
- 3 Bath
- 3134 sft
24585 Edgewood Dr, Novi, MI, 48374
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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