35724 Elm StWayneMI48184
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeNot flashy, but dependably profitable, 35724 Elm St, Wayne, MI, 48184 in Wayne is listed at $234,900 and delivers $1,837/mo in rent and $288/mo in net monthly cash flow. The 9.39% yield and 1.74 DSCR provide the underwriting comfort Ziffy Mortgage needs to approve a DSCR loan without W-2 or tax-return documentation. Projected 5% annual appreciation adds $64,899 over five years, and $2,163/yr in principal reduction supplements cash return. Total projected cumulative return: $108,047.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.4% | 6.5% |
| Monthly Cash Flow | $288 | $800 |
City averages based on Wayne market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,837 |
| Total Monthly Debt Service | $1,456 |
| DSCR Ratio | 1.26x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1947
6,969 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Single Family
Built in 1947
6,969 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices