7403 Patton StDetroitMI48228
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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 7403 Patton St, Detroit, MI, 48228 offers a 9.48% rental yield on a $119,000 purchase with $940/mo rent. Total monthly income registers $940/mo, and a $582/mo payment leaves $156/mo available for distribution. Annual cash flow reaches $1,868/yr on $39,449 to close, and return on cash invested stands at 24.65% in year one. Equity gained on principal adds $768/yr while 5% annual appreciation supports $32,878 over five years. Portfolio math shows five-year ROI at 128.81% and total cumulative return in cash at $50,813. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $940/mo property income against a $582/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1950
5,227 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48228, Detroit, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 22,274 (100%) |
| Owner Occupied HU | 9,640 (43.3%) |
| Renter Occupied HU | 9,525 (42.8%) |
| Vacant Housing Units | 3,109 (14.0%) |
| Median Home Value | $61,280 |
| Average Home Value | $129,795 |
Housing Distribution
Address Breakdown
Residential
19,964
Single Family
18,566
Multi-Family
1,398
Businesses
945
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