1973 Orleans St #24DetroitMI48207
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowStrong cash flow defines 1973 Orleans St #24, Detroit, MI, 48207 in Detroit: $2,038/mo in rent, $616/mo net, 20.46% gross yield, all on a $119,500 acquisition. The 3.80 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 $33,016 in value, and $1,101/yr in principal paydown steadily builds equity. Projected total cumulative return: $87,949.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 20.5% | 9.2% |
| Monthly Cash Flow | $616 | $450 |
City averages based on Detroit market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,038 |
| Total Monthly Debt Service | $1,374 |
| DSCR Ratio | 1.48x |
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.
Condo
Built in 1966
N/A lot
$N/A/sqft
$634 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48207, Detroit, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,089 (100%) |
| Owner Occupied HU | 3,076 (21.8%) |
| Renter Occupied HU | 9,104 (64.6%) |
| Vacant Housing Units | 1,909 (13.5%) |
| Median Home Value | $217,828 |
| Average Home Value | $232,766 |
Housing Distribution
Address Breakdown
Residential
11,293
Single Family
5,243
Multi-Family
6,050
Businesses
1,011
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
Condo
Built in 1966
N/A lot
$N/A/sqft
$634 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48207, Detroit, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,089 (100%) |
| Owner Occupied HU | 3,076 (21.8%) |
| Renter Occupied HU | 9,104 (64.6%) |
| Vacant Housing Units | 1,909 (13.5%) |
| Median Home Value | $217,828 |
| Average Home Value | $232,766 |
Housing Distribution
Address Breakdown
Residential
11,293
Single Family
5,243
Multi-Family
6,050
Businesses
1,011
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices