8931 Wormer AveRedfordMI48239
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
Investment Highlights
Rental property for sale in Redford at 8931 Wormer Ave, Redford, MI, 48239 generates $2,011/mo in rent and, after a $1,067/mo payment, leaves $573/mo in cash flow. Total monthly income is $2,011/mo, and annual cash flow is $6,881/yr on $72,267 invested. Return on cash invested sits at 29.43% in year one, and rental yield is 11.07% on a $218,000 entry. Equity gained on principal adds $1,407/yr, while 5% annual appreciation builds toward $60,229 over five years. Five-year ROI reaches 154.47% and total cumulative return in cash sums $111,631. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,011/mo property income rather than buyer’s personal income.
Single Family
Built in 1957
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48239, Redford, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,269 (100%) |
| Owner Occupied HU | 11,232 (73.6%) |
| Renter Occupied HU | 3,490 (22.9%) |
| Vacant Housing Units | 547 ( 3.6%) |
| Median Home Value | $160,996 |
| Average Home Value | $202,329 |
Housing Distribution
Address Breakdown
Residential
15,044
Single Family
14,336
Multi-Family
708
Businesses
968
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