29618 Terrace CtWarrenMI48093
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowStrong cash flow defines 29618 Terrace Ct, Warren, MI, 48093 in Warren: $3,116/mo in rent, $1,595/mo net, 19.09% gross yield, all on a $195,900 acquisition. The 3.54 coverage ratio comfortably clears Ziffy Mortgage's threshold, enabling foreign-national buyers to close without U.S. credit documentation. Over five years, 5% appreciation adds $54,124 in value, and $1,804/yr in principal paydown steadily builds equity. Projected total cumulative return: $178,208.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 19.1% | 7.2% |
| Monthly Cash Flow | $1,595 | $450 |
City averages based on Warren market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,116 |
| Total Monthly Debt Service | $1,444 |
| DSCR Ratio | 2.16x |
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.
Condo
Built in 1972
N/A lot
$N/A/sqft
$230 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48093, Warren, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,768 (100%) |
| Owner Occupied HU | 8,204 (76.2%) |
| Renter Occupied HU | 2,199 (20.4%) |
| Vacant Housing Units | 365 ( 3.4%) |
| Median Home Value | $217,468 |
| Average Home Value | $247,931 |
Housing Distribution
Address Breakdown
Residential
10,498
Single Family
9,452
Multi-Family
1,046
Businesses
581
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 1972
N/A lot
$N/A/sqft
$230 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48093, Warren, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,768 (100%) |
| Owner Occupied HU | 8,204 (76.2%) |
| Renter Occupied HU | 2,199 (20.4%) |
| Vacant Housing Units | 365 ( 3.4%) |
| Median Home Value | $217,468 |
| Average Home Value | $247,931 |
Housing Distribution
Address Breakdown
Residential
10,498
Single Family
9,452
Multi-Family
1,046
Businesses
581
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices