2222 Detroit Ave APT 304ClevelandOH44113
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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 Cleveland at 2222 Detroit Ave APT 304, Cleveland, OH, 44113 uses $62,952 cash to close to unlock $3,040/yr annual cash flow and $253/mo monthly cash flow. Total monthly income runs $1,502/mo, and a $929/mo payment keeps the spread at $253/mo. Purchase price stands at $189,900, and rental yield measures 9.49% with $1,502/mo rent. Return on cash invested shows 24.74% in year one, and 5% annual appreciation builds toward $52,466 over five years. Five-year ROI reaches 129.31% and total cumulative return in cash records $81,401. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,502/mo property income covering a $929/mo payment rather than investor’s personal income.
Condo
Built in 2006
39.20 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 44113, Cleveland, OH area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,526 (100%) |
| Owner Occupied HU | 2,709 (18.6%) |
| Renter Occupied HU | 9,877 (68.0%) |
| Vacant Housing Units | 1,940 (13.4%) |
| Median Home Value | $338,265 |
| Average Home Value | $347,809 |
Housing Distribution
Address Breakdown
Residential
13,021
Single Family
5,605
Multi-Family
7,416
Businesses
1,402
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