2678 Richmond St 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 2678 Richmond St NW, Grand Rapids, MI, 49504 priced at $574,600 converts $2,996/mo rent into after a $2,812/mo obligation. Total monthly income equals $2,996/mo. Return on cash invested prints 15.03% in year one, and rental yield reads 6.26% against a $574,600 entry. Equity gained on principal adds $3,708/yr, while 5% annual appreciation compiles into $158,751 by year five. Five-year ROI reaches 77.18% and total cumulative return in cash sums $145,913. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,996/mo property income covering a $2,812/mo payment, not borrower’s personal income.
Single Family
Built in 1973
0.69 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: N/A • N/A
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Mls ID: #N/A