304 E Palmer 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
Investment property for sale in Detroit at 304 E Palmer St, Detroit, MI, 48202 listed at $374,900 pairs $3,563/mo rent with a $1,835/mo payment to leave $1,091/mo cash flow. Total monthly income runs $3,563/mo, and annual cash flow reaches $13,088/yr on $124,279 cash to close. Return on cash invested measures 30.44% in year one, and rental yield registers 11.4% at a $374,900 basis. Equity gained on principal adds $2,419/yr, and annual property appreciation at 5% supports $103,578 by year five. Five-year ROI tracks 159.86% and total cumulative return in cash totals $198,667. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $3,563/mo property income relative to a $1,835/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Townhouse
Built in 2005
N/A 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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