17173 New York StDetroitMI48224
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowStrong cash flow defines 17173 New York St, Detroit, MI, 48224 in Detroit: $1,560/mo in rent, $887/mo net, 18.35% gross yield, all on a $102,000 acquisition. The 3.40 coverage ratio comfortably clears Ziffy Mortgage's threshold, enabling foreign-national buyers to close without U.S. credit documentation. Over five years, 5% appreciation adds $28,181 in value, and $939/yr in principal paydown steadily builds equity. Projected total cumulative return: $95,966.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 18.4% | 9.2% |
| Monthly Cash Flow | $887 | $450 |
City averages based on Detroit market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,560 |
| Total Monthly Debt Service | $632 |
| DSCR Ratio | 2.47x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1929
4,590 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48224, Detroit, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,694 (100%) |
| Owner Occupied HU | 8,149 (48.8%) |
| Renter Occupied HU | 6,022 (36.1%) |
| Vacant Housing Units | 2,523 (15.1%) |
| Median Home Value | $88,052 |
| Average Home Value | $142,625 |
Housing Distribution
Address Breakdown
Residential
14,750
Single Family
14,168
Multi-Family
582
Businesses
676
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
Single Family
Built in 1929
4,590 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48224, Detroit, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,694 (100%) |
| Owner Occupied HU | 8,149 (48.8%) |
| Renter Occupied HU | 6,022 (36.1%) |
| Vacant Housing Units | 2,523 (15.1%) |
| Median Home Value | $88,052 |
| Average Home Value | $142,625 |
Housing Distribution
Address Breakdown
Residential
14,750
Single Family
14,168
Multi-Family
582
Businesses
676
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Carol Z Koepplin • W.C. Collins Realty
Mls Name: MiRealSource
Mls Provider:
Mls ID: #50177065
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