940 Monroe Ave NW UNIT 343, Grand Rapids, MI, 49503 | 9.2% Rental Yield

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NMLS #2625701

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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

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Investment Highlights

Total monthly income runs $1,840/mo, and a $1,175/mo payment. Purchase price stands at $240,000, and rental yield measures 9.2% with $1,840/mo rent. Return on cash invested shows 19.09% in year one, and 5% annual appreciation builds toward $66,308 over five years. Five-year ROI reaches 100.68% and total cumulative return in cash records $80,102. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,840/mo property income covering a $1,175/mo payment rather than investor’s personal income.

Condo

Built in 1892

N/A lot

$N/A/sqft

$311 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