4866 Three Mile DrDetroitMI48224
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
Investment Highlights
Investment property for sale in Detroit at 4866 Three Mile Dr, Detroit, MI, 48224 offers a 8.39% rental yield on a $204,000 purchase with $1,427/mo rent. Total monthly income registers $1,427/mo, and a $998/mo payment leaves $82/mo available for distribution. Annual cash flow reaches $986/yr on $67,626 to close, and return on cash invested stands at 21.37% in year one. Equity gained on principal adds $1,316/yr while 5% annual appreciation supports $56,361 over five years. Portfolio math shows five-year ROI at 111.26% and total cumulative return in cash at $75,244. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,427/mo property income against a $998/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Multi Family
Built in 1927
4,791 sqft 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
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