Novi Investment Analysis

Investment Property in Novi, MI

Novi, MI Real Estate Investment Performance

PROPERTY SALE PRICE

$ 464,700

Median

2,279

Avg/Sq.ft.
CASH ON CASH RETURN

3.00%

Traditional

6.00%

Airbnb
NUMBER OF PROPERTIES

36

Investment

33

Airbnb

133

Traditional

77%

Airbnb occupancy rate

Novi, MI Properties Rental Prices

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Investment Properties for Sale in Novi, MI

Investment Properties for Sale
$275,000
MLS 20230103249
Novi
Condo/Coop
3 beds 3 baths 1,323 sq.ft.
CAP RATE Trad. 4.44% Airbnb 9.70%
Investment Properties for Sale
$199,999
MLS 20240014994
Novi
Condo/Coop
2 beds 1 baths 970 sq.ft.
CAP RATE Trad. 5.75% Airbnb 8.80%
Investment Properties for Sale
$210,000
MLS 20240010233
Novi
Condo/Coop
2 beds 2 baths 1,100 sq.ft.
CAP RATE Trad. 3.51% Airbnb 7.37%
Investment Properties for Sale
$350,000
MLS 20240008855
Novi
Condo/Coop
3 beds 3 baths 1,516 sq.ft.
CAP RATE Trad. 3.46% Airbnb 6.95%
Investment Properties for Sale
$449,900
MLS 20230071096
Novi
Single Family Residential
3 beds 2 baths 1,410 sq.ft.
CAP RATE Trad. 3.88% Airbnb 6.41%
Investment Properties for Sale
$260,000
MLS 20230100781
Novi
Condo/Coop
2 beds 3 baths 1,226 sq.ft.
CAP RATE Trad. 4.21% Airbnb 6.33%
Investment Properties for Sale
$379,900
MLS 50135066
Novi
Condo/Coop
3 beds 3 baths 1,450 sq.ft.
CAP RATE Trad. 2.81% Airbnb 6.03%
Investment Properties for Sale
$410,000
MLS 20240008127
Novi
Condo/Coop
3 beds 3 baths 1,804 sq.ft.
CAP RATE Trad. 3.42% Airbnb 5.97%

Single Family Houses for Sale in Novi, MI

Investment Properties for Sale
$449,900
MLS 20230071096
Novi
Single Family Residential
3 beds 2 baths 1,410 sq.ft.
CAP RATE Trad. 3.88% Airbnb 6.41%
Investment Properties for Sale
$464,900
MLS 20240012233
Novi
Single Family Residential
3 beds 3 baths 2,023 sq.ft.
CAP RATE Trad. 5.02% Airbnb 5.64%
Investment Properties for Sale
$549,997
MLS 20240011389
Novi
Single Family Residential
3 beds 3 baths 1,928 sq.ft.
CAP RATE Trad. 3.40% Airbnb 4.84%
Investment Properties for Sale
$720,779
MLS 20230103591
Novi
Single Family Residential
3 beds 3 baths 2,252 sq.ft.
CAP RATE Trad. 3.41% Airbnb 3.74%
Investment Properties for Sale
$519,000
MLS 20240011516
Novi
Single Family Residential
4 beds 3 baths 2,298 sq.ft.
CAP RATE Trad. 4.59% Airbnb N/A
Investment Properties for Sale
$895,000
MLS 20230104942
Novi
Single Family Residential
4 beds 4 baths 3,572 sq.ft.
CAP RATE Trad. 3.76% Airbnb N/A
Investment Properties for Sale
$775,000
MLS 20240013899
Novi
Single Family Residential
5 beds 4 baths 2,791 sq.ft.
CAP RATE Trad. 3.74% Airbnb N/A
Investment Properties for Sale
$879,900
MLS 20221036438
Novi
Single Family Residential
4 beds 4 baths 2,975 sq.ft.
CAP RATE Trad. 3.49% Airbnb N/A

Condos for Sale in Novi, MI

Investment Properties for Sale
$275,000
MLS 20230103249
Novi
Condo/Coop
3 beds 3 baths 1,323 sq.ft.
CAP RATE Trad. 4.44% Airbnb 9.70%
Investment Properties for Sale
$199,999
MLS 20240014994
Novi
Condo/Coop
2 beds 1 baths 970 sq.ft.
CAP RATE Trad. 5.75% Airbnb 8.80%
Investment Properties for Sale
$210,000
MLS 20240010233
Novi
Condo/Coop
2 beds 2 baths 1,100 sq.ft.
CAP RATE Trad. 3.51% Airbnb 7.37%
Investment Properties for Sale
$350,000
MLS 20240008855
Novi
Condo/Coop
3 beds 3 baths 1,516 sq.ft.
CAP RATE Trad. 3.46% Airbnb 6.95%
Investment Properties for Sale
$260,000
MLS 20230100781
Novi
Condo/Coop
2 beds 3 baths 1,226 sq.ft.
CAP RATE Trad. 4.21% Airbnb 6.33%
Investment Properties for Sale
$379,900
MLS 50135066
Novi
Condo/Coop
3 beds 3 baths 1,450 sq.ft.
CAP RATE Trad. 2.81% Airbnb 6.03%
Investment Properties for Sale
$410,000
MLS 20240008127
Novi
Condo/Coop
3 beds 3 baths 1,804 sq.ft.
CAP RATE Trad. 3.42% Airbnb 5.97%
Investment Properties for Sale
$319,900
MLS 20240009683
Novi
Condo/Coop
2 beds 2 baths 1,579 sq.ft.
CAP RATE Trad. 3.01% Airbnb 3.82%

Top Novi, MI Neighborhoods - Real Estate Market Analysis

Novi
PROPERTY PRICE

$467,000

Median for city
CAP RATE

3.73%

Traditional

4.51%

Airbnb
RENTAL INCOME

$ 1,935

Traditional

$ 3,021

Airbnb

53%

Airbnb occupancy rate

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Airbnb Vacation Rentals in Novi, MI

Kayaks & Coffee 2 in Novi
$186 per night Airbnb occupancy rate 85%
Cottage 3 · 2 · 9
Rental Income: $4,805 per month
5
199
Kayaks & Coffee in Novi
$194 per night Airbnb occupancy rate 81%
Cottage 2 · 1 · 6
Rental Income: $4,785 per month
5
186
Novi Lakes Studio Cozy & Very Clean Coffee/Treats
$108 per night Airbnb occupancy rate 58%
Guest suite 1 · 1 · 3
Rental Income: $1,917 per month
5
173
Novi Lakes Home Very Clean/Cozy Coffee & Treats
$130 per night Airbnb occupancy rate 69%
House 1 · 2 · 6
Rental Income: $2,730 per month
5
172
Novi Lakes Private Apt
Cozy/Clean/Coffee/Treats
$107 per night Airbnb occupancy rate 54%
Apartment 1 · 1 · 3
Rental Income: $1,748 per month
5
139
Walled Lake Bliss Lakefront Novi/Kayaks/King Beds
$221 per night Airbnb occupancy rate 76%
Cottage 2 · 1 · 5
Rental Income: $5,101 per month
5
69
Luxurious Modern 2BR in Novi w/ Private Balcony
$118 per night Airbnb occupancy rate 78%
Apartment 2 · 2 · 6
Rental Income: $2,812 per month
5
68
⭐King Bed/Gym/Pool/Hot Tub⭐ Quiet Clean Bright
$135 per night Airbnb occupancy rate 58%
Apartment 1 · 1 · 3
Rental Income: $2,396 per month
5
63

Real Estate Investment Analysis - Other Cities in michigan

City Name Property price Cash on cash return Rental Income No. of Properties Airbnb Occupancy Rate
Median traditional Airbnb traditional Airbnb
Walled Lake $380,000 4% 6% $2,428 $3,433 49 69%
Wixom $494,950 4% 5% $2,671 $3,960 22 69%
Riverview $189,900 6% 11% $1,953 $2,939 11 66%
Newport $299,900 6% 5% $2,414 $2,726 15 66%
Farmington $297,450 3% 5% $1,608 $2,862 14 65%
Wyandotte $200,000 4% 5% $1,460 $1,833 27 64%
Trenton $189,900 4% 10% $1,383 $3,087 15 64%
Canton $406,250 3% 4% $2,527 $3,835 76 63%
Lincoln Park $149,950 7% 9% $1,405 $2,001 46 62%
Haslett $457,450 3% 4% $2,305 $3,296 16 60%
Milford $567,450 4% 4% $3,099 $4,249 38 59%
Okemos $449,900 3% 5% $2,341 $3,115 27 59%
Garden City $189,900 6% 6% $1,451 $2,011 25 58%
Highland $339,800 4% 8% $2,236 $4,079 17 56%
Clinton Township $269,900 4% 4% $1,880 $2,695 98 55%
Mount Clemens $210,000 5% 7% $1,425 $2,434 15 54%
Traverse City $459,000 3% 6% $2,401 $4,408 304 51%
Redford $234,900 5% 5% $1,660 $2,552 209 51%
Lake Orion $397,450 4% 6% $2,264 $3,452 44 51%
White Lake $399,900 4% 4% $2,483 $2,575 34 50%
View all michigan cities

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