1637 Hanchett Ave NWGrand RapidsMI49504
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 1637 Hanchett Ave NW, Grand Rapids, MI, 49504 earns $1,419/mo cash flow from $2,936/mo rent with a $1,126/mo payment. Total monthly income totals $2,936/mo, and annual cash flow totals $17,028/yr on $76,245 capital. ROI tracks 42.24% on current figures, and rental yield reads 15.32% at a $230,000 purchase. Equity gained on principal adds $1,484/yr, and 5% annual appreciation supports $63,545 over five years. Five-year ROI reaches 223.12% and total cumulative return in cash sums $170,119. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,936/mo property income instead of your personal income.
Single Family
Built in 1982
5,227 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49504, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,664 (100%) |
| Owner Occupied HU | 10,506 (56.3%) |
| Renter Occupied HU | 7,008 (37.5%) |
| Vacant Housing Units | 1,150 ( 6.2%) |
| Median Home Value | $258,759 |
| Average Home Value | $284,959 |
Housing Distribution
Address Breakdown
Residential
17,332
Single Family
14,985
Multi-Family
2,347
Businesses
891
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Listed by: Laurie Tamburrino • Coldwell Banker AJS (SE)
Mls Name: MichRIC
Mls Provider:
Mls ID: #24048415
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2024 MichRIC, LLC. All rights reserved.