21800 Morley Ave APT 416DearbornMI48124
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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 21800 Morley Ave APT 416, Dearborn, MI, 48124 generates $2,384/mo in rent and, after a $548/mo payment, leaves $1,024/mo in cash flow. Total monthly income is $2,384/mo, and annual cash flow is $12,285/yr on $37,095 invested. Return on cash invested sits at 53.03% in year one, and rental yield is 25.57% on a $111,900 entry. Equity gained on principal adds $722/yr, while 5% annual appreciation builds toward $30,916 over five years. Five-year ROI reaches 288.29% and total cumulative return in cash sums $106,940. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,384/mo property income rather than buyer’s personal income.
Condo
Built in 1973
N/A lot
$N/A/sqft
$622 monthly 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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Listed by: Allison Fishwick • Howard Hanna Real Estate-Dearborn
Mls Name: Realcomp II
Mls Provider:
Mls ID: #20240063378
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 2024-09-13 11:49:35 PDT Listing Information presented by local MLS brokerage: Zillow, Inc., REALTOR- Lauren Buttazzoni - (313) 479-2702