646 Broadway Ave NWGrand 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
Total monthly income runs $2,125/mo, and a $2,080/mo payment. Purchase price stands at $425,000, and rental yield measures 6% with $2,125/mo rent. Return on cash invested shows 14.14% in year one, and 5% annual appreciation builds toward $117,420 over five years. Five-year ROI reaches 72.43% and total cumulative return in cash records $102,041. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,125/mo property income covering a $2,080/mo payment rather than investor’s personal income.
Multi Family
Built in 1880
3,049 sqft 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: John J Postma • RE/MAX of Grand Rapids (FH)
Mls Name: MichRIC
Mls ID: #25051293