1227 16th StDetroitMI48216
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Investment property for sale in Detroit at 1227 16th St, Detroit, MI, 48216 offers a 7.95% rental yield on a $399,900 purchase with $2,648/mo rent. Total monthly income registers $2,648/mo, and a $1,957/mo payment leaves $11/mo available for distribution. Annual cash flow reaches $134/yr on $132,567 to close, and return on cash invested stands at 20.01% in year one. Equity gained on principal adds $2,580/yr while 5% annual appreciation supports $110,485 over five years. Portfolio math shows five-year ROI at 103.95% and total cumulative return in cash at $137,804. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,648/mo property income against a $1,957/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 2005
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48216, Detroit, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,611 (100%) |
| Owner Occupied HU | 1,001 (27.7%) |
| Renter Occupied HU | 1,784 (49.4%) |
| Vacant Housing Units | 826 (22.9%) |
| Median Home Value | $241,667 |
| Average Home Value | $294,176 |
Housing Distribution
Address Breakdown
Residential
2,835
Single Family
1,751
Multi-Family
1,084
Businesses
419
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