1216 Waterman StDetroitMI48209
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Total monthly income runs $1,446/mo, and a $1,208/mo payment. Purchase price stands at $246,900, and rental yield measures 7.03% with $1,446/mo rent. Return on cash invested shows 17.24% in year one, and 5% annual appreciation builds toward $68,214 over five years. Five-year ROI reaches 89.12% and total cumulative return in cash records $72,945. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,446/mo property income covering a $1,208/mo payment rather than investor’s personal income.
Multi Family
Built in 1926
4,791 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48209, Detroit, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,028 (100%) |
| Owner Occupied HU | 4,559 (45.5%) |
| Renter Occupied HU | 3,875 (38.6%) |
| Vacant Housing Units | 1,594 (15.9%) |
| Median Home Value | $97,165 |
| Average Home Value | $179,052 |
Housing Distribution
Address Breakdown
Residential
8,479
Single Family
7,568
Multi-Family
911
Businesses
573
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