284 Eliot St APT 4DetroitMI48201
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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 284 Eliot St APT 4, Detroit, MI, 48201 priced at $1,399,999 converts $5,308/mo rent into after a $6,852/mo obligation. Total monthly income equals $5,308/mo. Return on cash invested prints 9.99% in year one, and rental yield reads 4.55% against a $1,399,999 entry. Equity gained on principal adds $9,034/yr, while 5% annual appreciation compiles into $386,794 by year five. Five-year ROI reaches 50.09% and total cumulative return in cash sums $227,191. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $5,308/mo property income covering a $6,852/mo payment, not borrower’s personal income.
Condo
Built in 2019
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48201, Detroit, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,968 (100%) |
| Owner Occupied HU | 778 ( 7.1%) |
| Renter Occupied HU | 7,994 (72.9%) |
| Vacant Housing Units | 2,196 (20.0%) |
| Median Home Value | $439,119 |
| Average Home Value | $495,726 |
Housing Distribution
Address Breakdown
Residential
9,162
Single Family
2,532
Multi-Family
6,630
Businesses
586
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