3020 Rivers Edge DrWayneMI48184
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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 Wayne at 3020 Rivers Edge Dr, Wayne, MI, 48184 generates $1,220/mo in rent, after a $1,268/mo payment. Total monthly income is $1,220/mo. Return on cash invested sits at 13.08% in year one, and rental yield is 5.65% on a $259,000 entry. Equity gained on principal adds $1,671/yr, while 5% annual appreciation builds toward $71,557 over five years. Five-year ROI reaches 66.8% and total cumulative return in cash sums $57,352. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,220/mo property income rather than buyer’s personal income.
Condo
Built in 1992
2,178 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48184, Wayne, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,730 (100%) |
| Owner Occupied HU | 4,423 (57.2%) |
| Renter Occupied HU | 2,964 (38.3%) |
| Vacant Housing Units | 343 ( 4.4%) |
| Median Home Value | $152,708 |
| Average Home Value | $187,785 |
Housing Distribution
Address Breakdown
Residential
7,605
Single Family
6,521
Multi-Family
1,084
Businesses
563
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