440 E Ferry St #1DetroitMI48202
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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 440 E Ferry St #1, Detroit, MI, 48202 offers a 29.94% rental yield on a $102,400 purchase with $2,555/mo rent. Total monthly income registers $2,555/mo, and a $501/mo payment leaves $1,375/mo available for distribution. Annual cash flow reaches $16,499/yr on $33,946 to close, and return on cash invested stands at 68.51% in year one. Equity gained on principal adds $661/yr while 5% annual appreciation supports $28,291 over five years. Portfolio math shows five-year ROI at 370.48% and total cumulative return in cash at $125,761. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,555/mo property income against a $501/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Apartment
Built in 1917
1 Acres lot
$N/A/sqft
$505 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48202, Detroit, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,134 (100%) |
| Owner Occupied HU | 2,253 (20.2%) |
| Renter Occupied HU | 6,556 (58.9%) |
| Vacant Housing Units | 2,325 (20.9%) |
| Median Home Value | $260,755 |
| Average Home Value | $317,030 |
Housing Distribution
Address Breakdown
Residential
8,614
Single Family
4,239
Multi-Family
4,375
Businesses
886
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