20253 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
Investment property for sale in Harper Woods at 20253 Elkhart St, Harper Woods, MI, 48225 uses $45,380 cash to close to unlock $8,475/yr annual cash flow and $706/mo monthly cash flow. Total monthly income runs $1,609/mo, and a $670/mo payment keeps the spread at $706/mo. Purchase price stands at $136,893, and rental yield measures 14.1% with $1,609/mo rent. Return on cash invested shows 38.59% in year one, and 5% annual appreciation builds toward $37,821 over five years. Five-year ROI reaches 203.6% and total cumulative return in cash records $92,395. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,609/mo property income covering a $670/mo payment rather than investor’s personal income.
Single Family
Built in 1960
4,573 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: N/A • N/A
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