3982 Three Mile DrDetroitMI48224
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowIf cash-on-cash performance is your primary filter, 3982 Three Mile Dr, Detroit, MI, 48224 in Detroit deserves attention. This $195,000 property earns $1,813/mo in rent, a 11.16% gross yield, and nets $527/mo after the $877/mo payment. DSCR 2.07 makes it one of the cleaner DSCR underwriting candidates Ziffy Mortgage sees in this market. Five-year appreciation of $53,875 compounds alongside $1,796/yr in yearly equity build, for a total cumulative return of $108,205.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.2% | 9.2% |
| Monthly Cash Flow | $527 | $450 |
City averages based on Detroit market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,813 |
| Total Monthly Debt Service | $1,208 |
| DSCR Ratio | 1.50x |
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 1925
4,791 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48224, Detroit, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,694 (100%) |
| Owner Occupied HU | 8,149 (48.8%) |
| Renter Occupied HU | 6,022 (36.1%) |
| Vacant Housing Units | 2,523 (15.1%) |
| Median Home Value | $88,052 |
| Average Home Value | $142,625 |
Housing Distribution
Address Breakdown
Residential
14,750
Single Family
14,168
Multi-Family
582
Businesses
676
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 1925
4,791 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48224, Detroit, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,694 (100%) |
| Owner Occupied HU | 8,149 (48.8%) |
| Renter Occupied HU | 6,022 (36.1%) |
| Vacant Housing Units | 2,523 (15.1%) |
| Median Home Value | $88,052 |
| Average Home Value | $142,625 |
Housing Distribution
Address Breakdown
Residential
14,750
Single Family
14,168
Multi-Family
582
Businesses
676
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices