214 Meridan StDearbornMI48124
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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 Dearborn at 214 Meridan St, Dearborn, MI, 48124 priced at $529,900 converts $3,818/mo rent into $323/mo cash flow after a $2,594/mo obligation. Total monthly income equals $3,818/mo, and annual cash flow totals $3,878/yr on $174,337 invested. Return on cash invested prints 22.28% in year one, and rental yield reads 8.65% against a $529,900 entry. Equity gained on principal adds $3,419/yr, while 5% annual appreciation compiles into $146,402 by year five. Five-year ROI reaches 116.11% and total cumulative return in cash sums $202,415. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,818/mo property income covering a $2,594/mo payment, not borrower’s personal income.
Single Family
Built in 1928
5,227 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48124, Dearborn, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,372 (100%) |
| Owner Occupied HU | 11,190 (77.9%) |
| Renter Occupied HU | 2,503 (17.4%) |
| Vacant Housing Units | 679 ( 4.7%) |
| Median Home Value | $220,861 |
| Average Home Value | $272,546 |
Housing Distribution
Address Breakdown
Residential
14,311
Single Family
13,303
Multi-Family
1,008
Businesses
861
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