Is Carmel, MI a good place to invest in rental property?

Carmel, MI has a median modeled monthly cash flow of $-1,160 and a median cap rate of 1.9%, on a median sold price of $274,900. Prices changed +7.7% year over year.

What is the average cap rate in Carmel, MI?

The median cap rate across recently sold homes in Carmel, MI is 1.9%, based on CashFlowRE's rent and expense modeling.

What is the median home price in Carmel, MI?

The median sold price in Carmel, MI is $274,900 (about $162 per square foot).

Investing in Carmel, MI Real Estate

A data-driven snapshot of the Carmel, MI rental-property market, built from recently sold homes and CashFlowRE's per-listing investment modeling — median price, cap rate, monthly cash flow, appreciation and inventory — so you can judge the market before you ever open a listing.

$274,900Median sold price

$162Median $/sqft

1.9%Median cap rate

$-1,160Modeled cash flow / mo

+7.7%Appreciation YoY

3.3Months of supply

12Active listings

43Sold (last 12 mo)

What the Carmel numbers say

In Carmel, MI, the median home sold for $274,900 (about $162 per square foot), and the typical deal models out to a 1.9% cap rate with a median $-1,160 of monthly cash flow. Sold prices moved +7.7% over the past year. Inventory sits at about 3.3 months of supply — a tight, seller-friendly market. These are medians across recorded sales; individual properties vary widely, which is exactly what CashFlowRE scores listing by listing.

Other Michigan markets to compare

See Carmel cash-flowing listings

CashFlowRE ranks every for-sale home in Carmel, MI by cap rate, cash-on-cash return, DSCR and monthly cash flow — so the best rental deals rise to the top. Create a free account to screen Carmel deals, or browse the national market data.