24748 Andover DrDearborn 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 24748 Andover Dr, Dearborn Heights, MI, 48125 uses $65,935 cash to close to unlock $9,106/yr annual cash flow and $759/mo monthly cash flow. Total monthly income runs $2,071/mo, and a $974/mo payment keeps the spread at $759/mo. Purchase price stands at $198,900, and rental yield measures 12.49% with $2,071/mo rent. Return on cash invested shows 33.72% in year one, and 5% annual appreciation builds toward $54,952 over five years. Five-year ROI reaches 177.44% and total cumulative return in cash records $116,999. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,071/mo property income covering a $974/mo payment rather than investor’s personal income.
Single Family
Built in 1950
5,662 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: Mohammed Abdallah • Own It Realty
Mls Name: Realcomp II
Mls Provider:
Mls ID: #20240071404
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 2024-11-19 10:37:38 PST Listing Information presented by local MLS brokerage: Zillow, Inc., REALTOR- Lauren Buttazzoni - (313) 479-2702