1516 Cole Ave 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
Rental property for sale in Grand Rapids at 1516 Cole Ave NE, Grand Rapids, MI, 49505 priced at $199,900 converts $1,543/mo rent into $225/mo cash flow after a $978/mo obligation. Total monthly income equals $1,543/mo, and annual cash flow totals $2,702/yr on $66,267 invested. Return on cash invested prints 23.99% in year one, and rental yield reads 9.26% against a $199,900 entry. Equity gained on principal adds $1,290/yr, while 5% annual appreciation compiles into $55,229 by year five. Five-year ROI reaches 125.31% and total cumulative return in cash sums $83,041. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,543/mo property income covering a $978/mo payment, not borrower’s personal income.
Single Family
Built in 1886
6,098 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: Hakam S Hamed • Success Realty West Michigan
Mls Name: MichRIC
Mls ID: #25061847