600 Broadway Ave NW APT 242Grand 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
Rental property for sale in Grand Rapids at 600 Broadway Ave NW APT 242, Grand Rapids, MI, 49504 generates $1,613/mo in rent, after a $1,909/mo payment. Total monthly income is $1,613/mo. Return on cash invested sits at 11.01% in year one, and rental yield is 4.96% on a $390,000 entry. Equity gained on principal adds $2,517/yr, while 5% annual appreciation builds toward $107,750 over five years. Five-year ROI reaches 55.62% and total cumulative return in cash sums $71,912. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,613/mo property income rather than buyer’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: Alicia M Joustra • Five Star Real Estate (Main)
Mls Name: MichRIC
Mls ID: #26003298