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440 Nordberg Ave NW, Grand Rapids, MI 49504

3 beds • 3 baths • 1573 sqft

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This property looks like a bad Airbnb investment with a projected -12.48% first-year return on $105k initial cash invested.

-12.48%

Cash On Cash

3.31%

Cap Rate

0.54

DSCR

$2,987

Rent

-$1,087

Cashflow

$28,560

Annual

$2,400

Median

$2,354

Avg

25

Samples

Rent insights and distributions

Cash Flow

$2,987 income − $4,074 expenses = $1,087 out of pocket

Income$2,987Out of Pocket$1,087Mortgage P&I$2,10370%Property Taxes$39113%Insurance$1475%Management$44815%CapEx$1194%Maintenance$1194%Other$74725%

Investment Breakdown

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Purchase Price

$412k

Downpayment

20.0%

Interest Rate

6.6%

Mortgage Duration

30yr.

Cash To Invest

Total

$105k

Downpayment

20%

$82,400

Closing costs

1%

$4,120

Rehab

0%

$0

Furnishing

4%

$18,000

Cashflow

Total Income

$2,987

Total Expenses

$4,074

Mortgage P&I

70%

$2,103

Property Taxes

13%

$391

Home Insurance

5%

$147

HOA

0%

$0

Property Management

15%

$448

CapEx

4%

$119

Vacancy

0%

$0

Maintenance

4%

$119

Other

25%

$747

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