REI Lense

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$3,900 (target)

22440 Mill Rd, Novi, MI 48375

3 beds • 2 baths • 2900 sqft

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This property looks like a bad Mid-Term investment with a projected -0.09% first-year return on $96,603 initial cash invested.

-0.09%

Cash On Cash

6.49%

Cap Rate

1.08

DSCR

$3,900

Rent

-$7

Cashflow

$28,560

Annual

$2,400

Median

$2,354

Avg

25

Samples

Rent insights and distributions

Cash Flow

$3,900 income − $3,907 expenses = $7 out of pocket

Income$3,900Out of Pocket$7Mortgage P&I$1,87548%Property Taxes$46812%Insurance$1444%HOA$942%Management$46812%CapEx$1564%Vacancy$1173%Maintenance$1564%Other$42911%

Investment Breakdown

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Purchase Price

$374k

Downpayment

20.0%

Interest Rate

6.4%

Mortgage Duration

30yr.

Cash To Invest

Total

$96,603

Downpayment

20%

$74,860

Closing costs

1%

$3,743

Rehab

0%

$0

Furnishing

5%

$18,000

Cashflow

Total Income

$3,900

Total Expenses

$3,907

Mortgage P&I

48%

$1,875

Property Taxes

12%

$468

Home Insurance

4%

$144

HOA

2%

$94

Property Management

12%

$468

CapEx

4%

$156

Vacancy

3%

$117

Maintenance

4%

$156

Other

11%

$429

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