56 Monroe Center St NW APT 6Grand 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 56 Monroe Center St NW APT 6, Grand Rapids, MI, 49503 generates $2,476/mo in rent and, after a $1,248/mo payment, leaves $795/mo in cash flow. Total monthly income is $2,476/mo, and annual cash flow is $9,534/yr on $84,533 invested. Return on cash invested sits at 31.19% in year one, and rental yield is 11.65% 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 163.87% and total cumulative return in cash sums $138,524. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,476/mo property income rather than buyer’s personal income.
Condo
Built in 1874
N/A 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: Rebecca Dickenson • RE/MAX of Grand Rapids (FH)
Mls Name: MichRIC
Mls ID: #25054184