294 Richter StRiver RougeMI48218
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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 River Rouge at 294 Richter St, River Rouge, MI, 48218 priced at $143,900 converts $1,140/mo rent into $191/mo cash flow after a $704/mo obligation. Total monthly income equals $1,140/mo, and annual cash flow totals $2,296/yr on $47,703 invested. Return on cash invested prints 24.72% in year one, and rental yield reads 9.51% against a $143,900 entry. Equity gained on principal adds $929/yr, while 5% annual appreciation compiles into $39,757 by year five. Five-year ROI reaches 129.25% and total cumulative return in cash sums $61,655. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,140/mo property income covering a $704/mo payment, not borrower’s personal income.
Single Family
Built in 1937
3,049 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48218, River Rouge, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,292 (100%) |
| Owner Occupied HU | 1,532 (46.5%) |
| Renter Occupied HU | 1,194 (36.3%) |
| Vacant Housing Units | 566 (17.2%) |
| Median Home Value | $69,308 |
| Average Home Value | $118,450 |
Housing Distribution
Address Breakdown
Residential
2,782
Single Family
2,619
Multi-Family
163
Businesses
154
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Listed by: Michael Smitha • Smitha Enterprises, Inc
Mls Name: Realcomp II
Mls ID: #20251048048