1502 Millbank St SEGrand RapidsMI49508
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 1502 Millbank St SE, Grand Rapids, MI, 49508 earns $1,250/mo cash flow from $3,169/mo rent with a $1,424/mo payment. Total monthly income totals $3,169/mo, and annual cash flow totals $15,004/yr on $96,467 capital. ROI tracks 35.46% on current figures, and rental yield reads 13.07% at a $291,000 purchase. Equity gained on principal adds $1,878/yr, and 5% annual appreciation supports $80,398 over five years. Five-year ROI reaches 186.82% and total cumulative return in cash sums $180,222. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $3,169/mo property income instead of your personal income.
Single Family
Built in 1954
0.26 Acres 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: Lucas Howard • Keller Williams GR East
Mls Name: MichRIC
Mls Provider:
Mls ID: #25023112
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2025 MichRIC, LLC. All rights reserved.