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$210,000

For Sale - Active
1955 Coventry Rd, Jackson, MI 49201
2 Beds
2 Baths
1,120 Square Feet
0.00 Acres Lot
Built in 2006
For Sale - Active
Units n/a
Checked: 1 day ago
Updated: Jun 19, 2025 at 03:01AM

Investment Summary


Monthly Cash Flow
-$622
Cap Rate
2.6%
Cash-on-Cash Return
-15.5%
Debt Coverage Ratio
0.42
Internal Rate of Return (5 years)
-10.9%

Property Description


0.00 Acres Lot
Built in 2006
For Sale - Active
Units n/a

Beautifully renovated 2B, 2BA condo in The Glen at Magnolia Park is move-in ready & offers maintenance-free living at its best! On the 2nd floor, it boasts a full renovation, including freshly painted walls & ceilings, new light fixtures, & all-new flooring throughout, including plush new carpet in the spacious primary bedroom. The kitchen is a chef's dream w/ brand-new appliances, freshly painted cabinets, & a charming breakfast bar. Enjoy the convenience of a new washer & dryer in the laundry room & upgraded bathrooms w/ new toilets. Step outside onto the newly floored screened-in patio for a relaxing outdoor retreat. Additional features include new water heater, detached 1-car garage, & prime location close to golf courses, schools, restaurants, & parks. Don't miss this opportunity!

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Location


Property Details


Parking

  • Description: Door Opener, Detached
  • Details: Garage Door Opener, Detached, Paved
  • Garage Spaces: 1
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 7
  • # of Stories: 1

Exterior Features

  • Foundation: Slab
  • Roof Material: Shingle

HOA

  • Has HOA: Yes
  • HOA Fee: $279/monthly
  • Additional HOA Fee: $279

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 000130637500600
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: Other
  • Year Built: 2006

Tax Information

  • Annual Tax: $2,794

Utilities

  • Water & Sewer: Public
  • Heating: Natural Gas, Forced Air
  • Cooling: Central Air

Location

  • County: Jackson

Listing Details


Listed by:
HEATHER HERNDON
HOWARD HANNA REAL ESTATE SERVI
(517) 812-1641

Source:
Southwestern Michigan Association of REALTORS
MLS#: 25027229
Southwestern Michigan Association of REALTORS

Investment Summary


Monthly Cash Flow
-$622
Cap Rate
2.6%
Cash-on-Cash Return
-15.5%
Debt Coverage Ratio
0.42
Internal Rate of Return (5 years)
-10.9%

Purchase Details

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Purchase price:
$210,000
Amount financed:
-$168,000
Down payment:
$42,000
Closing costs:
$6,300
Rehab costs:
$0
Initial cash invested:
$48,300
Square feet:
1,120
Cost per square foot:
$188
Monthly rent per square foot:
$1.25

Financing Details

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Loan amount:
$168,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,076
Property tax:
$233
Insurance:
$98
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,407

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,400 $16,800
Vacancy loss: (6%)
6% -$84 -$1,008
Operating income:
$1,316 $15,792

Operating Expenses


% Rent Monthly Yearly
Property taxes: (17%)
17%-$233-$2,794
Insurance: (7%)
7%-$98-$1,176
Property management: (8%)
8%-$112-$1,344
Repairs & maintenance: (5%)
5%-$70-$840
Capital expenditures: (5%)
5%-$70-$840
HOA fees: (20%)
20%-$279-$3,348
Total operating expenses: (62%)
62%-$862-$10,342

Cash Flow


Monthly Yearly
Net operating income:
$454 $5,448
Mortgage payments:
-$1,076 -$12,912
Cash flow:
$622 $7,464