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2231 Ridgecroft Ave SE, Grand Rapids, MI 49546

3 beds • 2 baths • 3260 sqft

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This property looks like a bad Airbnb investment with a projected -15.46% first-year return on $129k initial cash invested.

-15.46%

Cash On Cash

2.58%

Cap Rate

0.42

DSCR

$2,947

Rent

-$1,663

Cashflow

$28,560

Annual

$2,400

Median

$2,354

Avg

25

Samples

Rent insights and distributions

Cash Flow

$2,947 income − $4,610 expenses = $1,663 out of pocket

Income$2,947Out of Pocket$1,663Mortgage P&I$2,68191%Property Taxes$32911%Insurance$1856%Management$44215%CapEx$1184%Maintenance$1184%Other$73725%

Investment Breakdown

|

Purchase Price

$529k

Downpayment

20.0%

Interest Rate

6.5%

Mortgage Duration

30yr.

Cash To Invest

Total

$129k

Downpayment

20%

$106k

Closing costs

1%

$5,290

Rehab

0%

$0

Furnishing

3%

$18,000

Cashflow

Total Income

$2,947

Total Expenses

$4,610

Mortgage P&I

91%

$2,681

Property Taxes

11%

$329

Home Insurance

6%

$185

HOA

0%

$0

Property Management

15%

$442

CapEx

4%

$118

Vacancy

0%

$0

Maintenance

4%

$118

Other

25%

$737

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