7720 E Canfield StDetroitMI48214
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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 7720 E Canfield St, Detroit, MI, 48214 uses $49,725 cash to close to unlock $2,400/yr annual cash flow and $200/mo monthly cash flow. Total monthly income runs $1,189/mo, and a $734/mo payment keeps the spread at $200/mo. Purchase price stands at $150,000, and rental yield measures 9.51% with $1,189/mo rent. Return on cash invested shows 24.74% in year one, and 5% annual appreciation builds toward $41,442 over five years. Five-year ROI reaches 129.24% and total cumulative return in cash records $64,266. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,189/mo property income covering a $734/mo payment rather than investor’s personal income.
Single Family
Built in 1914
3,049 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48214, Detroit, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,605 (100%) |
| Owner Occupied HU | 3,843 (30.5%) |
| Renter Occupied HU | 6,314 (50.1%) |
| Vacant Housing Units | 2,448 (19.4%) |
| Median Home Value | $116,792 |
| Average Home Value | $223,730 |
Housing Distribution
Address Breakdown
Residential
9,033
Single Family
5,086
Multi-Family
3,947
Businesses
400
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