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REI Lense

Novi, MI Long-Term Rental Analysis

Analyze rental property cap rates, cash-on-cash returns, and cashflow for long-term rental investments in Novi, MI. Based on 10+ datapoints.

Novi, MI Long-Term Rental Investment Snapshot

Based on 10+ long-term rental datapoints

Median Cap Rate

4%

Avg Cash on Cash

-12.6%

Median Cashflow

-$1,006/mo

Avg Rent Estimate

$2,652/mo

Avg Price

$440,608

Price Range

$300K – $600K

approximate

Rent to Price

0.6%

low ratio

Positive Cashflow

0%

of analyzed properties

Recent real estate investor listings analysed as long-term rental deals in Novi, MI

Novi, MI is primarily an appreciation-driven market for long-term rental investors. Cap rates average 4%, typical of mid-to-upper tier markets where property value growth complements rental income. Investors here build equity through appreciation while rental income covers holding costs.

Based on 10+ analyzed properties, the median monthly cashflow in Novi, MI is -$1,006 with average rents of $2,652/month. Properties are priced about $300,000 to $600,000, offering entry points across multiple investment budgets.

31191 Kingswood Blvd, Novi, MI 48377

Price

$532,000

Rent

$2,565

CachFlow

-$1,876

CoC

-20.15

Full Analysis

41147 S McMahon Cir, Novi, MI 48375

Price

$307,500

Rent

$2,584

CachFlow

-$522

CoC

-9.7

Full Analysis

46309 Cordoba Dr, Novi, MI 48374

Price

$599,000

Rent

$3,887

CachFlow

-$1,468

CoC

-14

Full Analysis

24400 Taft Rd, Novi, MI 48375

Price

$460,000

Rent

$2,715

CachFlow

-$1,278

CoC

-15.88

Full Analysis

39456 Squire Dr, Novi, MI 48375

Price

$552,800

Rent

$2,966

CachFlow

-$1,597

CoC

-16.51

Full Analysis
1–5 of 10+
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Novi, MI Rental Market Insights

  • Median cashflow is -$1,006/month — careful deal selection is essential here
  • 4% median cap rate is typical of appreciation-focused markets
  • At 0% positive cashflow rate, Novi, MI requires selective property picks
  • Mid-to-upper tier market with properties priced about $300,000 to $600,000
  • Consider this market if your strategy favors equity growth with rental income covering holding costs

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