300 Melbourne StDetroitMI48202
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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 300 Melbourne St, Detroit, MI, 48202 priced at $129,900 pairs $1,042/mo rent with $185/mo cash flow after a $636/mo payment. Total monthly income equals $1,042/mo, and annual cash flow comes to $2,222/yr on $43,062 invested. Return on cash invested is 25.07% in year one, and rental yield stands at 9.63% on a $129,900 basis. Equity gained on principal adds $838/yr, and 5% annual appreciation accumulates to $35,889 by year five. Five-year ROI measures 131.13% and total cumulative return in cash reaches $56,467. For financing, Ziffy Mortgage’s DSCR program evaluates $1,042/mo property income against a $636/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1910
4,356 sqft lot
$N/A/sqft
No 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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