18904 Elkhart StHarper WoodsMI48225
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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
Rental property for sale in Harper Woods at 18904 Elkhart St, Harper Woods, MI, 48225 generates $779/mo in rent and, after a $489/mo payment, leaves $120/mo in cash flow. Total monthly income is $779/mo, and annual cash flow is $1,440/yr on $33,150 invested. Return on cash invested sits at 24.25% in year one, and rental yield is 9.35% on a $100,000 entry. Equity gained on principal adds $645/yr, while 5% annual appreciation builds toward $27,628 over five years. Five-year ROI reaches 126.64% and total cumulative return in cash sums $41,980. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $779/mo property income rather than buyer’s personal income.
Single Family
Built in 1941
5,227 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48225, Harper Woods, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,424 (100%) |
| Owner Occupied HU | 3,740 (58.2%) |
| Renter Occupied HU | 2,308 (35.9%) |
| Vacant Housing Units | 376 ( 5.9%) |
| Median Home Value | $158,137 |
| Average Home Value | $185,916 |
Housing Distribution
Address Breakdown
Residential
6,359
Single Family
5,525
Multi-Family
834
Businesses
203
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Listed by: Trung Hieu Bui • Real Broker LLC Dearborn
Mls Name: Realcomp II
Mls ID: #20251039726