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$219,000

For Sale - Active
539 Pine Ave NW, Grand Rapids, MI 49504
Beds n/a
0 Baths
0 Square Feet
0.06 Acres Lot
Built in 1890
For Sale - Active
2 Units
Checked: 17 hours ago
Updated: Sep 28, 2025 at 01:08AM

Investment Summary


Monthly Cash Flow
-$17
Cap Rate
5.6%
Cash-on-Cash Return
-0.4%
Debt Coverage Ratio
0.98
Internal Rate of Return (5 years)
3.6%

Property Description


0.06 Acres Lot
Built in 1890
For Sale - Active
2 Units

Turnkey investment opportunity in the heart of Grand Rapids! This vacant duplex has been freshly painted, cleaned, and is ready for immediate occupancy. Featuring two 1-bed, 1-bath units with ample street parking, it offers a convenient location near I-196 ramps. Strong rental history with the upper unit previously rented at $1,200/month and the lower at $1,000/month. Rental certified through 2028. Priced to sell!

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Location


Property Details


Parking

  • Garage Spaces: 0
  • Spaces Total: 0

Bathroom Information

  • # of Baths (Total): 0.0

Interior Features

  • # of Rooms: 0
  • Basement: Yes
  • Fireplace: Yes

Exterior Features

  • Roof Material: Composition

Land Information

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

Lot Information

  • Parcel ID: 411323452035
  • Lot Size: 2706 sqft

Property Information

  • Property Type: Multi Family
  • Year Built: 1890

Tax Information

  • Annual Tax: $3,501

Utilities

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

Location

  • County: Kent

Listing Details


Listed by:
Bretton C Vredevoogd
Five Star Real Estate (Rock)
(616) 676-7308

Source:
Southwestern Michigan Association of REALTORS
MLS#: 25042366
Southwestern Michigan Association of REALTORS

Investment Summary


Monthly Cash Flow
-$17
Cap Rate
5.6%
Cash-on-Cash Return
-0.4%
Debt Coverage Ratio
0.98
Internal Rate of Return (5 years)
3.6%

Purchase Details

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Purchase price:
$219,000
Amount financed:
-$175,200
Down payment:
$43,800
Closing costs:
$6,570
Rehab costs:
$0
Initial cash invested:
$50,370
Square feet:
0
Cost per square foot:
n/a
Monthly rent per square foot:
n/a

Financing Details

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Loan amount:
$175,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,036
Property tax:
$292
Insurance:
$133
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,461

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,900 $22,800
Vacancy loss: (6%)
6% -$114 -$1,368
Operating income:
$1,786 $21,432

Operating Expenses


% Rent Monthly Yearly
Property taxes: (15%)
15%-$292-$3,501
Insurance: (7%)
7%-$133-$1,596
Property management: (8%)
8%-$152-$1,824
Repairs & maintenance: (5%)
5%-$95-$1,140
Capital expenditures: (5%)
5%-$95-$1,140
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (40%)
40%-$767-$9,201

Cash Flow


Monthly Yearly
Net operating income:
$1,019 $12,228
Mortgage payments:
-$1,036 -$12,432
Cash flow:
-$17 -$204