28 Turnberry LnDearbornMI48120
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayMarkets with strong demand fundamentals often produce low-yield, high-appreciation assets. 28 Turnberry Ln, Dearborn, MI, 48120 in Dearborn fits: $549,900, 3.78% gross yield, and a projected 5% annual appreciation rate adding $151,927 in value within five years. Rental yield 3.78%. The narrow rent-to-debt spread is the trade-off for market growth. Ziffy Mortgage's DSCR loan (0.70) finances non-U.S. buyers without personal income documentation; optimise coverage with a 30–35% down payment. $5,065/yr in principal paydown and $151,927 in appreciation project a total return of $87,753.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 3.8% | 8.0% |
| Monthly Cash Flow | $(2,392) | $350 |
City averages based on Dearborn market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,734 |
| Total Monthly Debt Service | $3,408 |
| DSCR Ratio | 0.51x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1993
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48120, Dearborn, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,013 (100%) |
| Owner Occupied HU | 1,141 (37.9%) |
| Renter Occupied HU | 1,625 (53.9%) |
| Vacant Housing Units | 247 ( 8.2%) |
| Median Home Value | $267,370 |
| Average Home Value | $291,535 |
Housing Distribution
Address Breakdown
Residential
2,636
Single Family
1,837
Multi-Family
799
Businesses
260
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Condo
Built in 1993
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48120, Dearborn, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,013 (100%) |
| Owner Occupied HU | 1,141 (37.9%) |
| Renter Occupied HU | 1,625 (53.9%) |
| Vacant Housing Units | 247 ( 8.2%) |
| Median Home Value | $267,370 |
| Average Home Value | $291,535 |
Housing Distribution
Address Breakdown
Residential
2,636
Single Family
1,837
Multi-Family
799
Businesses
260
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices