1119 Spencer St NEGrand RapidsMI49505
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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 Grand Rapids at 1119 Spencer St NE, Grand Rapids, MI, 49505 earns $765/mo cash flow from $2,934/mo rent with a $1,610/mo payment. Total monthly income totals $2,934/mo, and annual cash flow totals $9,176/yr on $109,064 capital. ROI tracks 28.32% on current figures, and rental yield reads 10.7% at a $329,000 purchase. Equity gained on principal adds $2,123/yr, and 5% annual appreciation supports $90,897 over five years. Five-year ROI reaches 148.5% and total cumulative return in cash sums $161,961. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,934/mo property income instead of your personal income.
Single Family
Built in 1954
7,840 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49505, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,709 (100%) |
| Owner Occupied HU | 9,483 (64.5%) |
| Renter Occupied HU | 4,578 (31.1%) |
| Vacant Housing Units | 648 ( 4.4%) |
| Median Home Value | $281,170 |
| Average Home Value | $311,704 |
Housing Distribution
Address Breakdown
Residential
13,974
Single Family
12,607
Multi-Family
1,367
Businesses
593
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Listed by: Alexander E Chavez • Bellabay Realty LLC
Mls Name: MichRIC
Mls ID: #25051214