1006 Cherry St SEGrand RapidsMI49506
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Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Investment property for sale in Grand Rapids at 1006 Cherry St SE, Grand Rapids, MI, 49506 listed at $578,000 pairs $2,562/mo rent with a $2,829/mo payment. Total monthly income runs $2,562/mo. Return on cash invested measures 12.17% in year one, and rental yield registers 5.32% at a $578,000 basis. Equity gained on principal adds $3,730/yr, and annual property appreciation at 5% supports $159,691 by year five. Five-year ROI tracks 61.88% and total cumulative return in cash totals $117,677. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,562/mo property income relative to a $2,829/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Multi Family
Built in 1900
7,840 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49506, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,282 (100%) |
| Owner Occupied HU | 9,333 (70.3%) |
| Renter Occupied HU | 3,352 (25.2%) |
| Vacant Housing Units | 597 ( 4.5%) |
| Median Home Value | $381,078 |
| Average Home Value | $459,706 |
Housing Distribution
Address Breakdown
Residential
12,765
Single Family
11,674
Multi-Family
1,091
Businesses
601
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Nearby investment properties with comparable prices
Listed by: Kevin C McCarty • Greenridge Realty (EGR)
Mls Name: MichRIC
Mls Provider:
Mls ID: #25019890
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2025 MichRIC, LLC. All rights reserved.