6240 W Outer DrDetroitMI48235
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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 6240 W Outer Dr, Detroit, MI, 48235 earns $394/mo cash flow from $1,706/mo rent with a $974/mo payment. Total monthly income totals $1,706/mo, and annual cash flow totals $4,724/yr on $65,969 capital. ROI tracks 27.07% on current figures, and rental yield reads 10.29% at a $199,000 purchase. Equity gained on principal adds $1,284/yr, and 5% annual appreciation supports $54,980 over five years. Five-year ROI reaches 141.8% and total cumulative return in cash sums $93,546. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,706/mo property income instead of your personal income.
Single Family
Built in 1955
5,227 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48235, Detroit, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,262 (100%) |
| Owner Occupied HU | 10,030 (52.1%) |
| Renter Occupied HU | 7,437 (38.6%) |
| Vacant Housing Units | 1,795 ( 9.3%) |
| Median Home Value | $93,913 |
| Average Home Value | $127,245 |
Housing Distribution
Address Breakdown
Residential
18,178
Single Family
16,284
Multi-Family
1,894
Businesses
960
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