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

Independence, MI has a median modeled monthly cash flow of $-1,289 and a median cap rate of 2.8%, on a median sold price of $417,000. Prices changed +1.7% year over year.

What is the average cap rate in Independence, MI?

The median cap rate across recently sold homes in Independence, MI is 2.8%, based on CashFlowRE's rent and expense modeling.

What is the median home price in Independence, MI?

The median sold price in Independence, MI is $417,000 (about $182 per square foot).

Investing in Independence, MI Real Estate

A data-driven snapshot of the Independence, 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.

$417,000Median sold price

$182Median $/sqft

2.8%Median cap rate

$-1,289Modeled cash flow / mo

+1.7%Appreciation YoY

6.7Months of supply

297Active listings

532Sold (last 12 mo)

What the Independence numbers say

In Independence, MI, the median home sold for $417,000 (about $182 per square foot), and the typical deal models out to a 2.8% cap rate with a median $-1,289 of monthly cash flow. Sold prices moved +1.7% over the past year. Inventory sits at about 6.7 months of supply. 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 Independence cash-flowing listings

CashFlowRE ranks every for-sale home in Independence, 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 Independence deals, or browse the national market data.