600 Broadway Ave NW APT 234Grand RapidsMI49504
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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 Grand Rapids at 600 Broadway Ave NW APT 234, Grand Rapids, MI, 49504 uses $74,588 cash to close to unlock $6,258/yr annual cash flow and $522/mo monthly cash flow. Total monthly income runs $2,005/mo, and a $1,101/mo payment keeps the spread at $522/mo. Purchase price stands at $225,000, and rental yield measures 10.69% with $2,005/mo rent. Return on cash invested shows 28.3% in year one, and 5% annual appreciation builds toward $62,163 over five years. Five-year ROI reaches 148.4% and total cumulative return in cash records $110,685. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,005/mo property income covering a $1,101/mo payment rather than investor’s personal income.
Condo
Built in 1900
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49504, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,664 (100%) |
| Owner Occupied HU | 10,506 (56.3%) |
| Renter Occupied HU | 7,008 (37.5%) |
| Vacant Housing Units | 1,150 ( 6.2%) |
| Median Home Value | $258,759 |
| Average Home Value | $284,959 |
Housing Distribution
Address Breakdown
Residential
17,332
Single Family
14,985
Multi-Family
2,347
Businesses
891
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Listed by: Keith J King • Berkshire Hathaway HomeServices Michigan Real Estate (Main)
Mls Name: MichRIC
Mls ID: #25056346