37228 Vernon DrSterling HeightsMI48310
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeSolid fundamentals define the investment case at 37228 Vernon Dr, Sterling Heights, MI, 48310 in Sterling Heights: $2,570/mo in rent, $363/mo in net income, 9.21% gross yield, 1.71 DSCR, all at $334,777. Ziffy Mortgage's DSCR mortgage qualifies using the property's income alone, clearing approval without U.S. residency or credit. Five-year equity from $92,493 in appreciation and $3,083/yr in principal paydown projects total cumulative return of $150,864.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.2% | 4.2% |
| Monthly Cash Flow | $363 | $850 |
City averages based on Sterling Heights market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,570 |
| Total Monthly Debt Service | $2,074 |
| DSCR Ratio | 1.24x |
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 1975
7,840 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48310, Sterling Heights, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,880 (100%) |
| Owner Occupied HU | 11,823 (74.5%) |
| Renter Occupied HU | 3,635 (22.9%) |
| Vacant Housing Units | 422 ( 2.7%) |
| Median Home Value | $282,538 |
| Average Home Value | $295,248 |
Housing Distribution
Address Breakdown
Residential
15,732
Single Family
14,767
Multi-Family
965
Businesses
876
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 1975
7,840 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48310, Sterling Heights, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,880 (100%) |
| Owner Occupied HU | 11,823 (74.5%) |
| Renter Occupied HU | 3,635 (22.9%) |
| Vacant Housing Units | 422 ( 2.7%) |
| Median Home Value | $282,538 |
| Average Home Value | $295,248 |
Housing Distribution
Address Breakdown
Residential
15,732
Single Family
14,767
Multi-Family
965
Businesses
876
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: John Diamond • RE/MAX First
Mls Name: MiRealSource
Mls ID: #50195218