250 E Harbortown Dr APT 702DetroitMI48207
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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 E Harbortown Dr APT 702, Detroit, MI, 48207 generates $940/mo in rent and, after a $587/mo payment, leaves $149/mo in cash flow. Total monthly income is $940/mo, and annual cash flow is $1,790/yr on $39,747 invested. Return on cash invested sits at 24.41% in year one, and rental yield is 9.41% on a $119,900 entry. Equity gained on principal adds $774/yr, while 5% annual appreciation builds toward $33,126 over five years. Five-year ROI reaches 127.65% and total cumulative return in cash sums $50,736. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $940/mo property income rather than buyer’s personal income.
Condo
Built in 1988
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48207, Detroit, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,089 (100%) |
| Owner Occupied HU | 3,076 (21.8%) |
| Renter Occupied HU | 9,104 (64.6%) |
| Vacant Housing Units | 1,909 (13.5%) |
| Median Home Value | $217,828 |
| Average Home Value | $232,766 |
Housing Distribution
Address Breakdown
Residential
11,293
Single Family
5,243
Multi-Family
6,050
Businesses
1,011
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