824 Cliffs Dr E #304YpsilantiMI48198
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeWhen a property's DSCR clears 1.5x, lenders and investors both pay attention. 824 Cliffs Dr E #304, Ypsilanti, MI, 48198 in Ypsilanti achieves a 1.67 ratio at $240,000: $1,799/mo rent versus $1,079/mo debt service. Rental yield 8.99%. Ziffy Mortgage's no-W2 DSCR loan is purpose-built for assets like this. The 8.99% yield compounds alongside 5% annual appreciation projecting $66,308 in value. Total projected cumulative return: $78,114.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9% | 6.8% |
| Monthly Cash Flow | $(238) | $450 |
City averages based on Ypsilanti market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,799 |
| Total Monthly Debt Service | $1,941 |
| DSCR Ratio | 0.93x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1968
N/A lot
$N/A/sqft
$454 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48198, Ypsilanti, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,069 (100%) |
| Owner Occupied HU | 10,176 (56.3%) |
| Renter Occupied HU | 7,112 (39.4%) |
| Vacant Housing Units | 781 ( 4.3%) |
| Median Home Value | $179,766 |
| Average Home Value | $270,804 |
Housing Distribution
Address Breakdown
Residential
17,418
Single Family
14,565
Multi-Family
2,853
Businesses
741
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Condo
Built in 1968
N/A lot
$N/A/sqft
$454 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48198, Ypsilanti, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,069 (100%) |
| Owner Occupied HU | 10,176 (56.3%) |
| Renter Occupied HU | 7,112 (39.4%) |
| Vacant Housing Units | 781 ( 4.3%) |
| Median Home Value | $179,766 |
| Average Home Value | $270,804 |
Housing Distribution
Address Breakdown
Residential
17,418
Single Family
14,565
Multi-Family
2,853
Businesses
741
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
