5061 Bishop StDetroitMI48224
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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
Rental property for sale in Detroit at 5061 Bishop St, Detroit, MI, 48224 generates $1,856/mo in rent and, after a $954/mo payment, leaves $571/mo in cash flow. Total monthly income is $1,856/mo, and annual cash flow is $6,848/yr on $64,609 invested. Return on cash invested sits at 30.51% in year one, and rental yield is 11.43% on a $194,900 entry. Equity gained on principal adds $1,258/yr, while 5% annual appreciation builds toward $53,847 over five years. Five-year ROI reaches 160.23% and total cumulative return in cash sums $103,527. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,856/mo property income rather than buyer’s personal income.
Single Family
Built in 1933
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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