3320 Spinnaker Ln #16BDetroitMI48207
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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 3320 Spinnaker Ln #16B, Detroit, MI, 48207 uses $53,007 cash to close to unlock $2,330/yr annual cash flow and $194/mo monthly cash flow. Total monthly income runs $1,249/mo, and a $783/mo payment keeps the spread at $194/mo. Purchase price stands at $159,900, and rental yield measures 9.37% with $1,249/mo rent. Return on cash invested shows 24.3% in year one, and 5% annual appreciation builds toward $44,177 over five years. Five-year ROI reaches 127.04% and total cumulative return in cash records $67,338. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,249/mo property income covering a $783/mo payment rather than investor’s personal income.
Condo
Built in 1987
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48207, Detroit, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,089 (100%) |
| Owner Occupied HU | 3,076 (21.8%) |
| Renter Occupied HU | 9,104 (64.6%) |
| Vacant Housing Units | 1,909 (13.5%) |
| Median Home Value | $217,828 |
| Average Home Value | $232,766 |
Housing Distribution
Address Breakdown
Residential
11,293
Single Family
5,243
Multi-Family
6,050
Businesses
1,011
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