637 Prospect Ave NEGrand 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 637 Prospect Ave NE, Grand Rapids, MI, 49503 priced at $285,000 converts $2,048/mo rent into $169/mo cash flow after a $1,395/mo obligation. Total monthly income equals $2,048/mo, and annual cash flow totals $2,022/yr on $94,478 invested. Return on cash invested prints 22.05% in year one, and rental yield reads 8.62% against a $285,000 entry. Equity gained on principal adds $1,839/yr, while 5% annual appreciation compiles into $78,740 by year five. Five-year ROI reaches 114.88% and total cumulative return in cash sums $108,534. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,048/mo property income covering a $1,395/mo payment, not borrower’s personal income.
Single Family
Built in 1890
4,791 sqft 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: Julie A Reisner • NextHome ONE of Kalamazoo
Mls Name: MichRIC
Mls ID: #25033245