60 Carriage Ln SWGrand 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 60 Carriage Ln SW, Grand Rapids, MI, 49548 priced at $154,900 converts $1,219/mo rent into $198/mo cash flow after a $758/mo obligation. Total monthly income equals $1,219/mo, and annual cash flow totals $2,372/yr on $51,349 invested. Return on cash invested prints 24.53% in year one, and rental yield reads 9.44% against a $154,900 entry. Equity gained on principal adds $1,000/yr, while 5% annual appreciation compiles into $42,796 by year five. Five-year ROI reaches 128.2% and total cumulative return in cash sums $65,828. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,219/mo property income covering a $758/mo payment, not borrower’s personal income.
Condo
Built in 1987
N/A lot
$N/A/sqft
No 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: Steven R VanWyck • Rise Realty Group
Mls Name: MichRIC
Mls ID: #26003246