940 Monroe Ave NW #347Grand 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
Investment property for sale in Grand Rapids at 940 Monroe Ave NW #347, Grand Rapids, MI, 49503 listed at $395,000 pairs $2,786/mo rent with a $1,933/mo payment. Total monthly income runs $2,786/mo. Return on cash invested measures 17.06% in year one, and rental yield registers 8.46% at a $395,000 basis. Equity gained on principal adds $2,549/yr, and annual property appreciation at 5% supports $109,131 by year five. Five-year ROI tracks 89.76% and total cumulative return in cash totals $117,534. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,786/mo property income relative to a $1,933/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 1892
N/A lot
$N/A/sqft
$492 monthly 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: Bradley S Veneklase • Urban Soil Realty
Mls Name: MichRIC
Mls Provider:
Mls ID: #25036207
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2025 MichRIC, LLC. All rights reserved.