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$435,000

Sale Pending
10417 6 Mile Rd NE, Rockford, MI 49341
4 Beds
2 Baths
2,084 Square Feet
2.67 Acres Lot
Built in 1973
Sale Pending
Units n/a
Checked: 1 day ago
Updated: May 22, 2025 at 02:19AM

Investment Summary


Monthly Cash Flow
-$590
Cap Rate
4.5%
Cash-on-Cash Return
-7.1%
Debt Coverage Ratio
0.74
Internal Rate of Return (5 years)
-2.9%

Property Description


2.67 Acres Lot
Built in 1973
Sale Pending
Units n/a

Say ''Hello!'' to this updated 4 bed, 1.5 bath home in the sought-after Lowell School District. Discover the perfect blend of privacy and nature with this charming two-story home, ideally located on a designated ''Natural Beauty Road'' and nestled on 2.67 wooded acres. With Saul's Nature Bog literally in your backyard and just minutes from area lakes and scenic parks—including Townsend Park—you'll enjoy endless opportunities to explore, hike, or simply relax in your own outdoor oasis. Inside, the main floor welcomes you with a bright formal living room and a spacious dining area that opens to a beautifully updated kitchen, featuring stainless steel appliances, warm butcher block countertops, and a peninsula island perfect for casual dining or entertaining. The cozy family room includes a wood-burning fireplace and sliders leading to the back deckideal for summer barbecues or quiet morning coffee. A convenient half bath completes the main level. Upstairs, you'll find four comfortable bedrooms and a full bath, offering plenty of space for family or guests. The finished lower level boasts a large rec room, while the unfinished area provides practical storage space. Outside, the huge backyard is a nature lover's dreamroom to roam, garden, or just soak in the beauty of your private forest setting. A 2-stall attached garage completes this home.

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Location


Property Details


Parking

  • Description: 2, Attached
  • Details: Garage Faces Front, Attached, Asphalt
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Partial): 1
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 10
  • # of Stories: 2
  • Basement: Yes
  • Basement Description: Full, Partially Finished
  • Fireplace: Yes

Exterior Features

  • Roof Material: Asphalt

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 411220300004
  • Lot Size: 116305 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Colonial
  • Year Built: 1973

Tax Information

  • Annual Tax: $3,528

Utilities

  • Water & Sewer: Private, Well
  • Heating: Forced Air, Propane
  • Cooling: Central Air

Location

  • County: Kent

Listing Details


Listed by:
Ashley Schaefer
Hello Homes GR
(616) 439-1272

Source:
Southwestern Michigan Association of REALTORS
MLS#: 25023191
Southwestern Michigan Association of REALTORS

Investment Summary


Monthly Cash Flow
-$590
Cap Rate
4.5%
Cash-on-Cash Return
-7.1%
Debt Coverage Ratio
0.74
Internal Rate of Return (5 years)
-2.9%

Purchase Details

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Purchase price:
$435,000
Amount financed:
-$348,000
Down payment:
$87,000
Closing costs:
$13,050
Rehab costs:
$0
Initial cash invested:
$100,050
Square feet:
2,084
Cost per square foot:
$209
Monthly rent per square foot:
$1.34

Financing Details

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Loan amount:
$348,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$2,228
Property tax:
$294
Insurance:
$196
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,718

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,800 $33,600
Vacancy loss: (6%)
6% -$168 -$2,016
Operating income:
$2,632 $31,584

Operating Expenses


% Rent Monthly Yearly
Property taxes: (11%)
11%-$294-$3,528
Insurance: (7%)
7%-$196-$2,352
Property management: (8%)
8%-$224-$2,688
Repairs & maintenance: (5%)
5%-$140-$1,680
Capital expenditures: (5%)
5%-$140-$1,680
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (36%)
36%-$994-$11,928

Cash Flow


Monthly Yearly
Net operating income:
$1,638 $19,656
Mortgage payments:
-$2,228 -$26,736
Cash flow:
$590 $7,080