320 Charles Ave SEGrand RapidsMI49503
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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 320 Charles Ave SE, Grand Rapids, MI, 49503 priced at $499,000 converts $1,886/mo rent into after a $2,442/mo obligation. Total monthly income equals $1,886/mo. Return on cash invested prints 9.72% in year one, and rental yield reads 4.54% against a $499,000 entry. Equity gained on principal adds $3,220/yr, while 5% annual appreciation compiles into $137,865 by year five. Five-year ROI reaches 48.74% and total cumulative return in cash sums $80,622. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,886/mo property income covering a $2,442/mo payment, not borrower’s personal income.
Multi Family
Built in 1880
5,662 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49503, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,238 (100%) |
| Owner Occupied HU | 7,149 (35.3%) |
| Renter Occupied HU | 11,464 (56.6%) |
| Vacant Housing Units | 1,625 ( 8.0%) |
| Median Home Value | $281,804 |
| Average Home Value | $332,147 |
Housing Distribution
Address Breakdown
Residential
18,278
Single Family
12,427
Multi-Family
5,851
Businesses
2,048
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Listed by: April Moayyer • Moayyer Real Estate
Mls Name: MichRIC
Mls Provider:
Mls ID: #25035004
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2025 MichRIC, LLC. All rights reserved.