1408 Prospect Ave SEGrand RapidsMI49507
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
Investment property for sale in Grand Rapids at 1408 Prospect Ave SE, Grand Rapids, MI, 49507 earns $1,265/mo cash flow from $2,946/mo rent with a $1,248/mo payment. Total monthly income totals $2,946/mo, and annual cash flow totals $15,174/yr on $84,533 capital. ROI tracks 37.86% on current figures, and rental yield reads 13.86% at a $255,000 purchase. Equity gained on principal adds $1,645/yr, and 5% annual appreciation supports $70,452 over five years. Five-year ROI reaches 199.66% and total cumulative return in cash sums $168,776. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,946/mo property income instead of your personal income.
Single Family
Built in 1911
9,147 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49507, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,654 (100%) |
| Owner Occupied HU | 8,476 (62.1%) |
| Renter Occupied HU | 4,606 (33.7%) |
| Vacant Housing Units | 572 ( 4.2%) |
| Median Home Value | $221,284 |
| Average Home Value | $243,171 |
Housing Distribution
Address Breakdown
Residential
12,903
Single Family
12,159
Multi-Family
744
Businesses
715
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Joshua Williams • Bellabay Realty LLC
Mls Name: MichRIC
Mls Provider:
Mls ID: #24044408
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2024 MichRIC, LLC. All rights reserved.