388 Lakewood StDetroitMI48215
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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 388 Lakewood St, Detroit, MI, 48215 uses $79,229 cash to close to unlock $5,516/yr annual cash flow and $460/mo monthly cash flow. Total monthly income runs $2,036/mo, and a $1,170/mo payment keeps the spread at $460/mo. Purchase price stands at $239,000, and rental yield measures 10.22% with $2,036/mo rent. Return on cash invested shows 26.87% in year one, and 5% annual appreciation builds toward $66,031 over five years. Five-year ROI reaches 140.71% and total cumulative return in cash records $111,480. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,036/mo property income covering a $1,170/mo payment rather than investor’s personal income.
Single Family
Built in 1924
6,098 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48215, Detroit, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,751 (100%) |
| Owner Occupied HU | 2,281 (39.7%) |
| Renter Occupied HU | 2,285 (39.7%) |
| Vacant Housing Units | 1,185 (20.6%) |
| Median Home Value | $159,707 |
| Average Home Value | $228,680 |
Housing Distribution
Address Breakdown
Residential
4,728
Single Family
3,996
Multi-Family
732
Businesses
301
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