2248 Griggs St #41Grand RapidsMI49506
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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
Total monthly income runs $3,685/mo, and a $3,062/mo payment. Purchase price stands at $625,615, and rental yield measures 7.07% with $3,685/mo rent. Return on cash invested shows 15.45% in year one, and 5% annual appreciation builds toward $172,846 over five years. Five-year ROI reaches 80.19% and total cumulative return in cash records $165,050. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,685/mo property income covering a $3,062/mo payment rather than investor’s personal income.
Condo
Built in 2023
N/A lot
$N/A/sqft
$350 monthly 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: Jamieson G Dutot • Mosaic Properties, Inc.
Mls Name: MichRIC
Mls Provider:
Mls ID: #23140887
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2025 MichRIC, LLC. All rights reserved.