271 S Shoreside Dr SE #51Grand RapidsMI49548
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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 271 S Shoreside Dr SE #51, Grand Rapids, MI, 49548 generates $1,514/mo in rent, after a $1,366/mo payment. Total monthly income is $1,514/mo. Return on cash invested sits at 12.11% in year one, and rental yield is 6.51% on a $279,000 entry. Equity gained on principal adds $1,800/yr, while 5% annual appreciation builds toward $77,083 over five years. Five-year ROI reaches 62.84% and total cumulative return in cash sums $58,123. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,514/mo property income rather than buyer’s personal income.
Condo
Built in 2006
N/A lot
$N/A/sqft
$275 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49548, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,625 (100%) |
| Owner Occupied HU | 9,662 (70.9%) |
| Renter Occupied HU | 3,618 (26.6%) |
| Vacant Housing Units | 345 ( 2.5%) |
| Median Home Value | $202,210 |
| Average Home Value | $248,548 |
Housing Distribution
Address Breakdown
Residential
13,361
Single Family
12,642
Multi-Family
719
Businesses
1,284
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Listed by: Chad J Vanderstelt • City2Shore Real Estate Holland
Mls Name: MichRIC
Mls Provider:
Mls ID: #24063294
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2024 MichRIC, LLC. All rights reserved.