1989 Gladstone StDetroitMI48206
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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 Detroit at 1989 Gladstone St, Detroit, MI, 48206 offers $2,906/mo rent that, after a $537/mo payment, leaves $2,183/mo cash flow. Total monthly income is $2,906/mo, and annual cash flow is $26,190/yr on $36,366 cash. Return on cash invested measures 91.93% in year one, and rental yield stands at 31.79% at a $109,700 entry. Equity gained on principal adds $708/yr while 5% annual appreciation compounds into $30,308 by year five. Five-year ROI records 489.66% and total cumulative return in cash reaches $178,069. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,906/mo property income versus a $537/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Multi Family
Built in 1921
4,791 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48206, Detroit, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,407 (100%) |
| Owner Occupied HU | 3,307 (31.8%) |
| Renter Occupied HU | 3,557 (34.2%) |
| Vacant Housing Units | 3,543 (34.0%) |
| Median Home Value | $151,731 |
| Average Home Value | $209,283 |
Housing Distribution
Address Breakdown
Residential
7,309
Single Family
6,362
Multi-Family
947
Businesses
167
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Listed by: Drew M Cheetwood • Social House Real Estate Group LLC
Mls Name: Realcomp II
Mls Provider:
Mls ID: #20240060495
Disclaimer: IDX provided courtesy of Realcomp II Ltd. via Zillow, Inc and MLS Copyright 2024 Realcomp II Ltd. Shareholders IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. The data relating to real estate properties on this website was last updated as recently as 2024-09-14 14:29:36 PDT Listing Information presented by local MLS brokerage: Zillow, Inc., REALTOR- Lauren Buttazzoni - (313) 479-2702