24319 Florence StDetroitMI48219
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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 Detroit at 24319 Florence St, Detroit, MI, 48219 listed at $148,000 pairs $1,151/mo rent with a $724/mo payment to leave $175/mo cash flow. Total monthly income runs $1,151/mo, and annual cash flow reaches $2,105/yr on $49,062 cash to close. Return on cash invested measures 24.2% in year one, and rental yield registers 9.33% at a $148,000 basis. Equity gained on principal adds $955/yr, and annual property appreciation at 5% supports $40,890 by year five. Five-year ROI tracks 126.43% and total cumulative return in cash totals $62,030. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,151/mo property income relative to a $724/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1954
3,876 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48219, Detroit, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,087 (100%) |
| Owner Occupied HU | 10,175 (48.3%) |
| Renter Occupied HU | 8,808 (41.8%) |
| Vacant Housing Units | 2,104 ( 10.0%) |
| Median Home Value | $89,919 |
| Average Home Value | $133,994 |
Housing Distribution
Address Breakdown
Residential
18,789
Single Family
16,030
Multi-Family
2,759
Businesses
818
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