585 Owen StDetroitMI48202
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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 585 Owen St, Detroit, MI, 48202 with 5% annual appreciation on a $119,900 basis while $1,203/mo rent supports operations. Total monthly income totals $1,203/mo and a $587/mo payment preserves $412/mo for cash returns. Annual cash flow comes to $4,946/yr on $39,747 deployed, and return on cash invested reaches 32.35% in year one. Equity gained on principal adds $774/yr, and five-year appreciation sums $33,126 alongside rental yield of 12.04%. Five-year ROI measures 170.22% and total cumulative return in cash totals $67,656.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $1,203/mo property income versus a $587/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Multi Family
Built in 1912
4,356 sqft lot
$N/A/sqft
No 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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