565 Lovett Ave SEEast Grand RapidsMI49506
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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
Investment property for sale in East Grand Rapids at 565 Lovett Ave SE, East Grand Rapids, MI, 49506 with 5% annual appreciation on a $649,000 basis while $2,240/mo rent supports operations. 59% in year one. Equity gained on principal adds $4,188/yr, and five-year appreciation sums $179,307 alongside rental yield of 4.14%. Five-year ROI measures 42.67% and total cumulative return in cash totals $91,104. Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $2,240/mo property income versus a $3,177/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Multi Family
Built in 1927
5,227 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49506, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,282 (100%) |
| Owner Occupied HU | 9,333 (70.3%) |
| Renter Occupied HU | 3,352 (25.2%) |
| Vacant Housing Units | 597 ( 4.5%) |
| Median Home Value | $381,078 |
| Average Home Value | $459,706 |
Housing Distribution
Address Breakdown
Residential
12,765
Single Family
11,674
Multi-Family
1,091
Businesses
601
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Listed by: Kyle Visser • ReSIDE Grand Rapids
Mls Name: MichRIC
Mls Provider:
Mls ID: #24061807
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2024 MichRIC, LLC. All rights reserved.