1813 Merrick St UNIT 4DetroitMI48208
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors who value predictability will appreciate 1813 Merrick St UNIT 4, Detroit, MI, 48208 in Detroit. At $339,560 it earns $2,958/mo in rent and distributes $489/mo to the owner after the $1,527/mo payment, a consistent 10.45% yield. DSCR 1.94 clears Ziffy Mortgage's income-only underwriting standard. Over five years, 5% annual appreciation adds $93,814 in value; $3,127/yr in principal paydown compounds ownership stake. Total projected return: $161,819.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.5% | 9.2% |
| Monthly Cash Flow | $489 | $450 |
City averages based on Detroit market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,958 |
| Total Monthly Debt Service | $2,334 |
| DSCR Ratio | 1.27x |
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.
Townhouse
Built in 2024
N/A lot
$N/A/sqft
$230 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48208, Detroit, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,108 (100%) |
| Owner Occupied HU | 952 (23.2%) |
| Renter Occupied HU | 2,225 (54.2%) |
| Vacant Housing Units | 931 (22.7%) |
| Median Home Value | $209,073 |
| Average Home Value | $224,176 |
Housing Distribution
Address Breakdown
Residential
3,837
Single Family
2,406
Multi-Family
1,431
Businesses
262
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
Townhouse
Built in 2024
N/A lot
$N/A/sqft
$230 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48208, Detroit, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,108 (100%) |
| Owner Occupied HU | 952 (23.2%) |
| Renter Occupied HU | 2,225 (54.2%) |
| Vacant Housing Units | 931 (22.7%) |
| Median Home Value | $209,073 |
| Average Home Value | $224,176 |
Housing Distribution
Address Breakdown
Residential
3,837
Single Family
2,406
Multi-Family
1,431
Businesses
262
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices