16291 Fairmount DrDetroitMI48205
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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 16291 Fairmount Dr, Detroit, MI, 48205 uses $37,128 cash to close to unlock $1,303/yr annual cash flow and $109/mo monthly cash flow. Total monthly income runs $847/mo, and a $548/mo payment keeps the spread at $109/mo. Purchase price stands at $112,000, and rental yield measures 9.07% with $847/mo rent. Return on cash invested shows 23.42% in year one, and 5% annual appreciation builds toward $30,944 over five years. Five-year ROI reaches 122.25% and total cumulative return in cash records $45,387. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $847/mo property income covering a $548/mo payment rather than investor’s personal income.
Single Family
Built in 1947
5,227 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48205, Detroit, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,957 (100%) |
| Owner Occupied HU | 6,481 (46.4%) |
| Renter Occupied HU | 5,046 (36.2%) |
| Vacant Housing Units | 2,430 (17.4%) |
| Median Home Value | $55,600 |
| Average Home Value | $102,023 |
Housing Distribution
Address Breakdown
Residential
12,202
Single Family
11,858
Multi-Family
344
Businesses
550
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