24074 Hanover StDearborn HeightsMI48125
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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 Dearborn Heights at 24074 Hanover St, Dearborn Heights, MI, 48125 listed at $199,000 pairs $1,506/mo rent with a $974/mo payment to leave $194/mo cash flow. Total monthly income runs $1,506/mo, and annual cash flow reaches $2,324/yr on $65,969 cash to close. Return on cash invested measures 23.43% in year one, and rental yield registers 9.08% at a $199,000 basis. Equity gained on principal adds $1,284/yr, and annual property appreciation at 5% supports $54,980 by year five. Five-year ROI tracks 122.29% and total cumulative return in cash totals $80,670. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,506/mo property income relative to a $974/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1958
6,098 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48125, Dearborn Heights, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,099 (100%) |
| Owner Occupied HU | 6,362 (69.9%) |
| Renter Occupied HU | 2,321 (25.5%) |
| Vacant Housing Units | 416 ( 4.6%) |
| Median Home Value | $128,735 |
| Average Home Value | $167,682 |
Housing Distribution
Address Breakdown
Residential
8,888
Single Family
8,832
Multi-Family
56
Businesses
272
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Listed by: Zeinab Issa • Keller Williams Legacy
Mls Name: Realcomp II
Mls ID: #20251041844