9916 HemingwayRedfordMI48239
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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 Redford at 9916 Hemingway, Redford, MI, 48239 uses $86,190 cash to close to unlock $6,840/yr annual cash flow and $570/mo monthly cash flow. Total monthly income runs $2,285/mo, and a $1,273/mo payment keeps the spread at $570/mo. Purchase price stands at $260,000, and rental yield measures 10.55% with $2,285/mo rent. Return on cash invested shows 27.84% in year one, and 5% annual appreciation builds toward $71,833 over five years. Five-year ROI reaches 145.92% and total cumulative return in cash records $125,765. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,285/mo property income covering a $1,273/mo payment rather than investor’s personal income.
Single Family
Built in 1963
6,969 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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