940 Monroe Ave NW UNIT 432AGrand RapidsMI49503
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 $1,270/mo, and a $929/mo payment. Purchase price stands at $189,900, and rental yield measures 8.03% with $1,270/mo rent. Return on cash invested shows 14.75% in year one, and 5% annual appreciation builds toward $52,466 over five years. Five-year ROI reaches 77.72% and total cumulative return in cash records $48,929. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,270/mo property income covering a $929/mo payment rather than investor’s personal income.
Condo
Built in 1893
2.87 Acres lot
$N/A/sqft
$289 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Charles J Gallagher • Greenridge Realty (Downtown)
Mls Name: MichRIC
Mls Provider:
Mls ID: #25019171
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2025 MichRIC, LLC. All rights reserved.