24107 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 24107 Hanover St, Dearborn Heights, MI, 48125 offers a 9.11% rental yield on a $169,900 purchase with $1,290/mo rent. Total monthly income registers $1,290/mo, and a $832/mo payment leaves $169/mo available for distribution. Annual cash flow reaches $2,030/yr on $56,322 to close, and return on cash invested stands at 23.51% in year one. Equity gained on principal adds $1,096/yr while 5% annual appreciation supports $46,940 over five years. Portfolio math shows five-year ROI at 122.77% and total cumulative return in cash at $69,146. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,290/mo property income against a $832/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1957
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: Ali Abdallah • Got Key'D Realty
Mls Name: Realcomp II
Mls Provider:
Mls ID: #20250004075
Disclaimer: IDX provided courtesy of Realcomp II Ltd. via Zillow, Inc and MLS Copyright 2025 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 2025-02-15 12:54:51 PST Listing Information presented by local MLS brokerage: Zillow, Inc., REALTOR- Lauren Buttazzoni - (313) 479-2702