Income & Property
Total expected rent per year (monthly rent x units x 12)
Michigan average: 7.5%
Property tax, insurance, maintenance, PM, etc.
Purchase price or current market value
Result
Fill in the fields to see your cap rate
Free Michigan cap rate calculator pre-loaded with MI property tax (1.32%), insurance ($1,400/yr), and vacancy (7.5%) defaults. Results are for educational underwriting purposes and should not be treated as financial, tax, legal, or investment advice.
Total expected rent per year (monthly rent x units x 12)
Michigan average: 7.5%
Property tax, insurance, maintenance, PM, etc.
Purchase price or current market value
Result
Fill in the fields to see your cap rate
Median Sale Price
$0
+3.8% YoY
Median Rent
$1,200/mo
+3% YoY
Vacancy Rate
7.5%
State average
Days on Market
35
Median DOM
Property Tax Rate
1.32%
Avg Insurance
$1,400/yr
Population Growth
%
Real estate investing is hyperlocal. National averages for property tax, insurance, and vacancy rates can be wildly misleading when underwriting a deal in Michigan. The MI effective property tax rate is 1.32%, which translates to $0/year on a median-priced Michigan home at $0. That single line item can be the difference between positive and negative cash flow.
Homeowners insurance in Michigan averages $1,400/year. Failing to account for MI-specific insurance costs is one of the most common mistakes new investors make when running numbers remotely. Moderate insurance costs.
The Michigan vacancy rate currently sits at 7.5%. Plugging in a generic 5% vacancy assumption when the actual market runs higher will overstate your projected income. This calculator pre-fills MI data so your analysis starts from reality, not assumptions.