1824 20th StDetroitMI48216
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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 1824 20th St, Detroit, MI, 48216 uses $72,930 cash to close to unlock $1,548/yr annual cash flow and $129/mo monthly cash flow. Total monthly income runs $1,580/mo, and a $1,077/mo payment keeps the spread at $129/mo. Purchase price stands at $220,000, and rental yield measures 8.62% with $1,580/mo rent. Return on cash invested shows 22.03% in year one, and 5% annual appreciation builds toward $60,782 over five years. Five-year ROI reaches 114.75% and total cumulative return in cash records $83,687. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,580/mo property income covering a $1,077/mo payment rather than investor’s personal income.
Single Family
Built in 1900
3,920 sqft 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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