882 Andover Ct SE #57Grand RapidsMI49508
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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 882 Andover Ct SE #57, Grand Rapids, MI, 49508 generates $1,459/mo in rent and, after a $792/mo payment, leaves $392/mo in cash flow. Total monthly income is $1,459/mo, and annual cash flow is $4,701/yr on $53,670 invested. Return on cash invested sits at 28.67% in year one, and rental yield is 10.81% on a $161,900 entry. Equity gained on principal adds $1,045/yr, while 5% annual appreciation builds toward $44,730 over five years. Five-year ROI reaches 150.36% and total cumulative return in cash sums $80,698. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,459/mo property income rather than buyer’s personal income.
Condo
Built in 1976
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49508, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,271 (100%) |
| Owner Occupied HU | 10,323 (63.4%) |
| Renter Occupied HU | 5,488 (33.7%) |
| Vacant Housing Units | 460 ( 2.8%) |
| Median Home Value | $292,420 |
| Average Home Value | $312,786 |
Housing Distribution
Address Breakdown
Residential
16,167
Single Family
13,226
Multi-Family
2,941
Businesses
918
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Listed by: Darin K Elliott • Greenridge Realty (Ionia)
Mls Name: MichRIC
Mls ID: #26003210