1248 Longfellow StDetroitMI48202
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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
Investment property for sale in Detroit at 1248 Longfellow St, Detroit, MI, 48202 uses $145,860 cash to close to unlock $9,468/yr annual cash flow and $789/mo monthly cash flow. Total monthly income runs $3,691/mo, and a $2,154/mo payment keeps the spread at $789/mo. Purchase price stands at $440,000, and rental yield measures 10.07% with $3,691/mo rent. Return on cash invested shows 26.4% in year one, and 5% annual appreciation builds toward $121,564 over five years. Five-year ROI reaches 138.17% and total cumulative return in cash records $201,538. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,691/mo property income covering a $2,154/mo payment rather than investor’s personal income.
Single Family
Built in 1916
6,665 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48202, Detroit, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,134 (100%) |
| Owner Occupied HU | 2,253 (20.2%) |
| Renter Occupied HU | 6,556 (58.9%) |
| Vacant Housing Units | 2,325 (20.9%) |
| Median Home Value | $260,755 |
| Average Home Value | $317,030 |
Housing Distribution
Address Breakdown
Residential
8,614
Single Family
4,239
Multi-Family
4,375
Businesses
886
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