283 E Ferry St #4DetroitMI48202
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowFew Detroit rentals match the income profile of 283 E Ferry St #4, Detroit, MI, 48202. Listed at $453,900, gross rent is $6,434/mo and net cash flow is $2,816/mo, a 17.01% yield well above national averages. DSCR 3.15 means Ziffy Mortgage can approve your loan on the property's income alone, bypassing personal income verification. The 5% annual appreciation trend adds $125,404 by year five with $4,180/yr in annual principal reduction, projecting $356,841 in total cumulative return.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 17% | 9.2% |
| Monthly Cash Flow | $2,816 | $450 |
City averages based on Detroit market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $6,434 |
| Total Monthly Debt Service | $3,438 |
| DSCR Ratio | 1.87x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, 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.
Townhouse
Built in 2003
N/A lot
$N/A/sqft
$625 monthly 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
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
Townhouse
Built in 2003
N/A lot
$N/A/sqft
$625 monthly 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices