940 Monroe Ave NW UNIT 326Grand 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 UNIT 326, Grand Rapids, MI, 49503 offers a 10.08% rental yield on a $232,900 purchase with $1,957/mo rent. Total monthly income registers $1,957/mo, and a $1,140/mo payment leaves $421/mo available for distribution. Annual cash flow reaches $5,053/yr on $77,206 to close, and return on cash invested stands at 26.45% in year one. Equity gained on principal adds $1,503/yr while 5% annual appreciation supports $64,346 over five years. Portfolio math shows five-year ROI at 138.52% and total cumulative return in cash at $106,949. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,957/mo property income against a $1,140/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1892
N/A 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: Kyle Sheerin • Independence Realty (Main)
Mls Name: MichRIC
Mls ID: #25049688