3508 Parker StDetroitMI48214
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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 3508 Parker St, Detroit, MI, 48214 offers a 8.18% rental yield on a $296,000 purchase with $2,018/mo rent. Total monthly income registers $2,018/mo, and a $1,449/mo payment leaves $66/mo available for distribution. Annual cash flow reaches $790/yr on $98,124 to close, and return on cash invested stands at 20.71% in year one. Equity gained on principal adds $1,910/yr while 5% annual appreciation supports $81,779 over five years. Portfolio math shows five-year ROI at 107.7% and total cumulative return in cash at $105,676. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,018/mo property income against a $1,449/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1912
3,484 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48214, Detroit, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,605 (100%) |
| Owner Occupied HU | 3,843 (30.5%) |
| Renter Occupied HU | 6,314 (50.1%) |
| Vacant Housing Units | 2,448 (19.4%) |
| Median Home Value | $116,792 |
| Average Home Value | $223,730 |
Housing Distribution
Address Breakdown
Residential
9,033
Single Family
5,086
Multi-Family
3,947
Businesses
400
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