2351 Plainfield 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
Investment property for sale in Grand Rapids at 2351 Plainfield Ave NE, Grand Rapids, MI, 49505 offers a 17.6% rental yield on a $349,900 purchase with $5,131/mo rent. Total monthly income registers $5,131/mo, and a $1,713/mo payment leaves $2,823/mo available for distribution. Annual cash flow reaches $33,878/yr on $115,992 to close, and return on cash invested stands at 49.12% in year one. Equity gained on principal adds $2,258/yr while 5% annual appreciation supports $96,671 over five years. Portfolio math shows five-year ROI at 260.03% and total cumulative return in cash at $301,614. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $5,131/mo property income against a $1,713/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1932
10,018 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: Brian Kasper • Century 21 Affiliated
Mls Name: Greater Lansing AOR
Mls Provider:
Mls ID: #283333
Disclaimer: IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS. Copyright 2023 Greater Lansing Association of REALTORS