1849 Covington Dr SEGrand RapidsMI49506
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 1849 Covington Dr SE, Grand Rapids, MI, 49506 earns $970/mo cash flow from $2,926/mo rent with a $1,452/mo payment. Total monthly income totals $2,926/mo, and annual cash flow totals $11,634/yr on $98,374 capital. ROI tracks 31.74% on current figures, and rental yield reads 11.83% at a $296,755 purchase. Equity gained on principal adds $1,915/yr, and 5% annual appreciation supports $81,988 over five years. Five-year ROI reaches 166.8% and total cumulative return in cash sums $164,089. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,926/mo property income instead of your personal income.
Single Family
Built in 1970
9,750 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49506, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,282 (100%) |
| Owner Occupied HU | 9,333 (70.3%) |
| Renter Occupied HU | 3,352 (25.2%) |
| Vacant Housing Units | 597 ( 4.5%) |
| Median Home Value | $381,078 |
| Average Home Value | $459,706 |
Housing Distribution
Address Breakdown
Residential
12,765
Single Family
11,674
Multi-Family
1,091
Businesses
601
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Listed by: Thomas M Zandee • Five Star Real Estate (M6)
Mls Name: MichRIC
Mls Provider:
Mls ID: #25039348
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2025 MichRIC, LLC. All rights reserved.