2401 Elderwood Dr NWGrand RapidsMI49544
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
Rental property for sale in Grand Rapids at 2401 Elderwood Dr NW, Grand Rapids, MI, 49544 generates $2,912/mo in rent, after a $2,344/mo payment. Total monthly income is $2,912/mo. Return on cash invested sits at 18.05% in year one, and rental yield is 7.3% on a $479,000 entry. Equity gained on principal adds $3,091/yr, while 5% annual appreciation builds toward $132,339 over five years. Five-year ROI reaches 93.39% and total cumulative return in cash sums $148,299. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,912/mo property income rather than buyer’s personal income.
Single Family
Built in 1974
0.62 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49544, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,014 (100%) |
| Owner Occupied HU | 2,165 (53.9%) |
| Renter Occupied HU | 1,749 (43.6%) |
| Vacant Housing Units | 100 ( 2.5%) |
| Median Home Value | $275,189 |
| Average Home Value | $287,192 |
Housing Distribution
Address Breakdown
Residential
4,003
Single Family
3,350
Multi-Family
653
Businesses
574
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Bradley Richards • ERA Reardon Realty Great Lakes
Mls Name: MichRIC
Mls ID: #25041388