1129 Lyon St NEGrand RapidsMI49503
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 Grand Rapids at 1129 Lyon St NE, Grand Rapids, MI, 49503 offers $2,011/mo rent that, after a $7,586/mo payment. Total monthly income is $2,011/mo. Return on cash invested measures 0.75% in year one, and rental yield stands at 1.56% at a $1,550,000 entry. Equity gained on principal adds $10,002/yr while 5% annual appreciation compounds into $428,236 by year five. Five-year ROI records 0.55% and total cumulative return in cash reaches $2,785. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,011/mo property income versus a $7,586/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Multi Family
Built in 1961
0.61 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49503, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,238 (100%) |
| Owner Occupied HU | 7,149 (35.3%) |
| Renter Occupied HU | 11,464 (56.6%) |
| Vacant Housing Units | 1,625 ( 8.0%) |
| Median Home Value | $281,804 |
| Average Home Value | $332,147 |
Housing Distribution
Address Breakdown
Residential
18,278
Single Family
12,427
Multi-Family
5,851
Businesses
2,048
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Listed by: Ryan Ogle • EXP Realty (Grand Rapids)
Mls Name: MichRIC
Mls Provider:
Mls ID: #24059440
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2024 MichRIC, LLC. All rights reserved.