1303 Richwood Dr SEGrand RapidsMI49508
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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
Rental property for sale in Grand Rapids at 1303 Richwood Dr SE, Grand Rapids, MI, 49508 generates $2,624/mo in rent and, after a $1,688/mo payment, leaves $350/mo in cash flow. Total monthly income is $2,624/mo, and annual cash flow is $4,196/yr on $114,334 invested. Return on cash invested sits at 23.58% in year one, and rental yield is 9.13% on a $344,900 entry. Equity gained on principal adds $2,226/yr, while 5% annual appreciation builds toward $95,290 over five years. Five-year ROI reaches 123.06% and total cumulative return in cash sums $140,697. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,624/mo property income rather than buyer’s personal income.
Single Family
Built in 1969
9,147 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49508, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,271 (100%) |
| Owner Occupied HU | 10,323 (63.4%) |
| Renter Occupied HU | 5,488 (33.7%) |
| Vacant Housing Units | 460 ( 2.8%) |
| Median Home Value | $292,420 |
| Average Home Value | $312,786 |
Housing Distribution
Address Breakdown
Residential
16,167
Single Family
13,226
Multi-Family
2,941
Businesses
918
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Listed by: Keith Buys • Michigan Lifestyle Properties
Mls Name: MichRIC
Mls ID: #25039133