283 E Ferry St #4DetroitMI48202
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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 283 E Ferry St #4, Detroit, MI, 48202 offers $6,434/mo rent that, after a $2,222/mo payment, leaves $2,815/mo cash flow. Total monthly income is $6,434/mo, and annual cash flow is $33,784/yr on $150,468 cash. Return on cash invested measures 42.36% in year one, and rental yield stands at 17.01% at a $453,900 entry. Equity gained on principal adds $2,929/yr while 5% annual appreciation compounds into $125,404 by year five. Five-year ROI records 225.59% and total cumulative return in cash reaches $339,438. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $6,434/mo property income versus a $2,222/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
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
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Listed by: Lisa Marie LaForest Smith • Berkshire Hathaway HomeServices The Loft Warehouse
Mls Name: Realcomp II
Mls Provider:
Mls ID: #20240022992
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 2024-09-14 12:59:03 PDT Listing Information presented by local MLS brokerage: Zillow, Inc., REALTOR- Lauren Buttazzoni - (313) 479-2702