20310 E Eight Mile RdHarper WoodsMI48225
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
Investment Highlights
Investment property for sale in Harper Woods at 20310 E Eight Mile Rd, Harper Woods, MI, 48225 offers a 9.21% rental yield on a $107,000 purchase with $821/mo rent. Total monthly income registers $821/mo, and a $524/mo payment leaves $115/mo available for distribution. Annual cash flow reaches $1,381/yr on $35,471 to close, and return on cash invested stands at 23.8% in year one. Equity gained on principal adds $690/yr while 5% annual appreciation supports $29,562 over five years. Portfolio math shows five-year ROI at 124.38% and total cumulative return in cash at $44,118. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $821/mo property income against a $524/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1937
3,920 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: Noor Yaqoob • Keller Williams Realty-Great Lakes
Mls Name: Realcomp II
Mls ID: #20261001195