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$1,200,000

For Sale - Active
7286 Storey Book Ln SE, Ada, MI 49301
6 Beds
5 Baths
4,701 Square Feet
0.53 Acres Lot
Built in 2006
For Sale - Active
Units n/a
Checked: 10 hours ago
Updated: Sep 30, 2025 at 10:04AM

Investment Summary


Monthly Cash Flow
-$3,799
Cap Rate
1.9%
Cash-on-Cash Return
-16.5%
Debt Coverage Ratio
0.33
Internal Rate of Return (5 years)
-12.0%

Property Description


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

Stunning Custom Home in Gated Storeybook Community - 6 Bedrooms, 5 Bathrooms Welcome to 7286 Storey Book, an elegant residence in the gated, Old European cottage-themed Storeybook community—an address where homes rarely come available. This thoughtfully designed neighborhood is celebrated for its lush landscaping, charming architecture, and harmonious blend with nature, all within the award-winning Forest Hills School District. Perfectly situated between Thornapple Valley Community Park and Ada Township Park, the location offers exceptional privacy while being just five minutes from downtown Ada and moments from the Thornapple River. Custom-built in 2006 by this 6-bedroom, 5-bathroom executive home offers over 5,000 square feet of beautifully crafted living space. The heart of the home is a stunning two-story great room with a fireplace, filled with natural light and framed by serene views. A gourmet chef's kitchen features granite countertops, a center island, premium appliances, and abundant cabinetry, opening to inviting dining and gathering spaces that are perfect for both casual living and formal entertaining. The main level includes a private guest en suite with a full bath, ideal for visitors or multi-generational living. Upstairs, the expansive owner's suite provides a luxurious retreat with heated tile floors, a Jacuzzi tub, and a spacious walk-in closet. Three additional bedrooms share this upper level, each designed for comfort and style. The finished daylight lower level includes a bedroom, a full bath, and is plumbed for a wet bar, offering generous space for a recreation area, fitness zone, or home theater. Throughout the home, custom finishes, quality materials, and thoughtful details create a timeless sense of elegance, while modern conveniences such as forced air heating, central air conditioning, and a three-stall attached garage ensure ease of living. Surrounded by manicured landscaping, privacy hedges, and outdoor spaces designed for relaxation, this property perfectly reflects the Storeybook vision of creating healthy, beautiful living environments. Whether strolling the nearby trails, kayaking on the Thornapple River, or enjoying the shops and dining of downtown Ada, you'll find the perfect balance of tranquility and accessibility here.

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Location


Property Details


Parking

  • Description: Garage
  • Details: Garage Door Opener, Attached, Paved
  • Garage Spaces: 3
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 6

Bathroom Information

  • # of Baths (Full): 5
  • # of Baths (Total): 5.0

Interior Features

  • # of Rooms: 9
  • # of Stories: 2
  • Basement: Yes
  • Basement Description: Daylight, Finished
  • Fireplace: Yes

Exterior Features

  • Roof Material: Asphalt, Shingle

HOA

  • Has HOA: Yes
  • HOA Fee: $395/quarterly
  • Additional HOA Fee: $395

Land Information

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

Lot Information

  • Parcel ID: 411903105009
  • Lot Size: 23087 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Traditional
  • Year Built: 2006

Tax Information

  • Annual Tax: $9,806

Utilities

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

Location

  • County: Kent

Listing Details


Listed by:
Sheree L Broussard
Greenridge Realty (Summit)
(616) 365-8900

Source:
Southwestern Michigan Association of REALTORS
MLS#: 25041104
Southwestern Michigan Association of REALTORS

Investment Summary


Monthly Cash Flow
-$3,799
Cap Rate
1.9%
Cash-on-Cash Return
-16.5%
Debt Coverage Ratio
0.33
Internal Rate of Return (5 years)
-12.0%

Purchase Details

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Purchase price:
$1,200,000
Amount financed:
-$960,000
Down payment:
$240,000
Closing costs:
$36,000
Rehab costs:
$0
Initial cash invested:
$276,000
Square feet:
4,701
Cost per square foot:
$255
Monthly rent per square foot:
$0.87

Financing Details

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Loan amount:
$960,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$5,679
Property tax:
$817
Insurance:
$287
Private mortgage insurance (PMI):
$0
Monthly payment:
$6,783

Operating Income

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% Rent Monthly Yearly
Gross rent:
$4,100 $49,200
Vacancy loss: (6%)
6% -$246 -$2,952
Operating income:
$3,854 $46,248

Operating Expenses


% Rent Monthly Yearly
Property taxes: (20%)
20%-$817-$9,806
Insurance: (7%)
7%-$287-$3,444
Property management: (8%)
8%-$328-$3,936
Repairs & maintenance: (5%)
5%-$205-$2,460
Capital expenditures: (5%)
5%-$205-$2,460
HOA fees: (3%)
3%-$132-$1,584
Total operating expenses: (48%)
48%-$1,974-$23,690

Cash Flow


Monthly Yearly
Net operating income:
$1,880 $22,560
Mortgage payments:
-$5,679 -$68,148
Cash flow:
-$3,799 -$45,588