9200 King Richard StDetroitMI48224
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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 9200 King Richard St, Detroit, MI, 48224 uses $38,123 cash to close to unlock $1,782/yr annual cash flow and $149/mo monthly cash flow. Total monthly income runs $907/mo, and a $563/mo payment keeps the spread at $149/mo. Purchase price stands at $115,000, and rental yield measures 9.46% with $907/mo rent. Return on cash invested shows 24.58% in year one, and 5% annual appreciation builds toward $31,772 over five years. Five-year ROI reaches 128.55% and total cumulative return in cash records $49,005. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $907/mo property income covering a $563/mo payment rather than investor’s personal income.
Single Family
Built in 1928
5,662 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48224, Detroit, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,694 (100%) |
| Owner Occupied HU | 8,149 (48.8%) |
| Renter Occupied HU | 6,022 (36.1%) |
| Vacant Housing Units | 2,523 (15.1%) |
| Median Home Value | $88,052 |
| Average Home Value | $142,625 |
Housing Distribution
Address Breakdown
Residential
14,750
Single Family
14,168
Multi-Family
582
Businesses
676
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