REI Lense

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$2,600 (target)

22440 Mill Rd, Novi, MI 48375

3 beds • 2 baths • 2900 sqft

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This property looks like a bad Long-Term investment with a projected -10.03% first-year return on $78,603 initial cash invested.

-10.03%

Cash On Cash

4.32%

Cap Rate

0.72

DSCR

$2,600

Rent

-$657

Cashflow

$28,560

Annual

$2,400

Median

$2,354

Avg

25

Samples

Rent insights and distributions

Cash Flow

$2,600 income − $3,257 expenses = $657 out of pocket

Income$2,600Out of Pocket$657Mortgage P&I$1,87572%Property Taxes$46818%Insurance$1446%HOA$944%Management$26010%CapEx$1305%Vacancy$1566%Maintenance$1305%

Investment Breakdown

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Purchase Price

$374k

Downpayment

20.0%

Interest Rate

6.4%

Mortgage Duration

30yr.

Cash To Invest

Total

$78,603

Downpayment

20%

$74,860

Closing costs

1%

$3,743

Rehab

0%

$0

Furnishing

0%

$0

Cashflow

Total Income

$2,600

Total Expenses

$3,257

Mortgage P&I

72%

$1,875

Property Taxes

18%

$468

Home Insurance

6%

$144

HOA

4%

$94

Property Management

10%

$260

CapEx

5%

$130

Vacancy

6%

$156

Maintenance

5%

$130

Other

0%

$0

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