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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 -11.88% first-year return on $105k initial cash invested.

-11.88%

Cash On Cash

3.47%

Cap Rate

0.57

DSCR

$3,090

Rent

-$1,035

Cashflow

$28,560

Annual

$2,400

Median

$2,354

Avg

25

Samples

Rent insights and distributions

Cash Flow

$3,090 income − $4,125 expenses = $1,035 out of pocket

Income$3,090Out of Pocket$1,035Mortgage P&I$2,10368%Property Taxes$39113%Insurance$1475%Management$46415%CapEx$1244%Maintenance$1244%Other$77225%

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

$3,090

Total Expenses

$4,125

Mortgage P&I

68%

$2,103

Property Taxes

13%

$391

Home Insurance

5%

$147

HOA

0%

$0

Property Management

15%

$464

CapEx

4%

$124

Vacancy

0%

$0

Maintenance

4%

$124

Other

25%

$772

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