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5
Values Slip to $364K, 40 Comps Analyzed
Updated 7 days ago • 2 new comps
Your Investment Paths
Turnkey Rental
This property offers a promising rental opportunity in the Ferndale area. Based on local market data, you can expect a monthly rental income between $2,466 and $2,969, highlighting a strong potential for steady cash flow. With an estimated rental yield of approximately 8.03%, this investment stands out as a solid performer. Leveraging these market-driven income figures provides a realistic outlook, ensuring you have a clear picture of your investment's earning potential.
More about this home
Neighborhood Assessment
Ferndale is a pretty strong neighborhood for value stability and rental demand, especially for buyers who want a lively inner-ring suburb with solid school ratings and good regional appeal. Nearby comps on Grayson and Goodrich show a wide spread, but the immediate block has several similar homes trading around the high $300Ks to low $400Ks, which points to a healthy market.
Market Activity
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Rental Income
$33K
Yield
8.0%
Year 1 Estimates
Fix-and-Flip
Updating your home offers a fantastic chance to create a fresh, modern living space. While the current price per square foot sits at roughly 241 dollars versus 250 dollars baseline, this refresh unlocks meaningful lifestyle benefits. Investing in these improvements enhances your home’s appeal, potentially drawing in tenants with a monthly rent range near 2,900 dollars. This path helps your property shine, creating a vibrant environment that buyers and renters truly value.
Comps
6
Buy-Rehab-Rent
This property offers strong rental potential, with projected monthly income of $2,903 and an solid 9.9% yield. The post-renovation value estimate of $335,000 to $371,000 provides a reliable baseline for long-term equity growth in this market. Investors should focus on maintaining tight renovation costs, as the current market price per square foot for updated homes is roughly $241. This strategy aligns well with the neighborhood's established rental demand and consistent appreciation outlook.
Rental Income
$35K
Yield
9.9%
Year 1 Estimates, Post Typical Renovation
Estimated value
$406K
$56.2K over comp median
Comparative Market Analysis
$255K – $435K
~140 days to sell
Based on 8 comps
2844 Grayson St, Ferndale Investment Report: Flip & Rental Analysis · Frontflip