1518 Mayfield 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 1518 Mayfield Ave NE, Grand Rapids, MI, 49505 generates $2,160/mo in rent and, after a $1,590/mo payment, leaves $18/mo in cash flow. Total monthly income is $2,160/mo, and annual cash flow is $212/yr on $107,704 invested. Return on cash invested sits at 20.11% in year one, and rental yield is 7.98% on a $324,900 entry. Equity gained on principal adds $2,097/yr, while 5% annual appreciation builds toward $89,764 over five years. Five-year ROI reaches 104.45% and total cumulative return in cash sums $112,493. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,160/mo property income rather than buyer’s personal income.
Single Family
Built in 1955
9,583 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: Jason P Schuringa • Five Star Real Estate (M6)
Mls Name: MichRIC
Mls ID: #25060933