250 Alger StDetroitMI48202
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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
Rental property for sale in Detroit at 250 Alger St, Detroit, MI, 48202 generates $2,615/mo in rent and, after a $1,835/mo payment, leaves $143/mo in cash flow. Total monthly income is $2,615/mo, and annual cash flow is $1,710/yr on $124,313 invested. Return on cash invested sits at 21.28% in year one, and rental yield is 8.37% on a $375,000 entry. Equity gained on principal adds $2,420/yr, while 5% annual appreciation builds toward $103,606 over five years. Five-year ROI reaches 110.76% and total cumulative return in cash sums $137,691. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,615/mo property income rather than buyer’s personal income.
Single Family
Built in 1915
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48202, Detroit, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,134 (100%) |
| Owner Occupied HU | 2,253 (20.2%) |
| Renter Occupied HU | 6,556 (58.9%) |
| Vacant Housing Units | 2,325 (20.9%) |
| Median Home Value | $260,755 |
| Average Home Value | $317,030 |
Housing Distribution
Address Breakdown
Residential
8,614
Single Family
4,239
Multi-Family
4,375
Businesses
886
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