2589 Lake Michigan Dr NWGrand RapidsMI49504
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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
Rental property for sale in Grand Rapids at 2589 Lake Michigan Dr NW, Grand Rapids, MI, 49504 generates $1,944/mo in rent and, after a $1,248/mo payment, leaves $263/mo in cash flow. Total monthly income is $1,944/mo, and annual cash flow is $3,150/yr on $84,533 invested. Return on cash invested sits at 23.64% in year one, and rental yield is 9.15% on a $255,000 entry. Equity gained on principal adds $1,645/yr, while 5% annual appreciation builds toward $70,452 over five years. Five-year ROI reaches 123.37% and total cumulative return in cash sums $104,288. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,944/mo property income rather than buyer’s personal income.
Single Family
Built in 1956
0.42 Acres 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: Terry Adams • A.L.C. Realty
Mls Name: MichRIC
Mls ID: #26000655