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

Richmond, MI has a median modeled monthly cash flow of $-1,172 and a median cap rate of 1.6%, on a median sold price of $268,000. Prices changed +8.1% year over year.

What is the average cap rate in Richmond, MI?

The median cap rate across recently sold homes in Richmond, MI is 1.6%, based on CashFlowRE's rent and expense modeling.

What is the median home price in Richmond, MI?

The median sold price in Richmond, MI is $268,000 (about $160 per square foot).

Investing in Richmond, MI Real Estate

A data-driven snapshot of the Richmond, 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.

$268,000Median sold price

$160Median $/sqft

1.6%Median cap rate

$-1,172Modeled cash flow / mo

+8.1%Appreciation YoY

6.3Months of supply

99Active listings

189Sold (last 12 mo)

What the Richmond numbers say

In Richmond, MI, the median home sold for $268,000 (about $160 per square foot), and the typical deal models out to a 1.6% cap rate with a median $-1,172 of monthly cash flow. Sold prices moved +8.1% over the past year. Inventory sits at about 6.3 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 Richmond cash-flowing listings

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