838 Algonquin StDetroitMI48215
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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
Investment Highlights
Investment property for sale in Detroit at 838 Algonquin St, Detroit, MI, 48215 offers a 9.69% rental yield on a $269,900 purchase with $2,179/mo rent. Total monthly income registers $2,179/mo, and a $1,321/mo payment leaves $399/mo available for distribution. Annual cash flow reaches $4,790/yr on $89,472 to close, and return on cash invested stands at 25.26% in year one. Equity gained on principal adds $1,742/yr while 5% annual appreciation supports $74,568 over five years. Portfolio math shows five-year ROI at 132.11% and total cumulative return in cash at $118,206. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,179/mo property income against a $1,321/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1922
3,920 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48215, Detroit, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,751 (100%) |
| Owner Occupied HU | 2,281 (39.7%) |
| Renter Occupied HU | 2,285 (39.7%) |
| Vacant Housing Units | 1,185 (20.6%) |
| Median Home Value | $159,707 |
| Average Home Value | $228,680 |
Housing Distribution
Address Breakdown
Residential
4,728
Single Family
3,996
Multi-Family
732
Businesses
301
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