1030 Eastern Ave SEGrand RapidsMI49507
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowSolid fundamentals define the investment case at 1030 Eastern Ave SE, Grand Rapids, MI, 49507 in Grand Rapids: $1,902/mo in rent, $477/mo in net income, 10.64% gross yield, 2.21 DSCR, all at $191,000. Ziffy Mortgage's DSCR mortgage qualifies using the property's income alone, clearing approval without U.S. residency or credit. Five-year equity from $52,770 in appreciation and $1,759/yr in principal paydown projects total cumulative return of $114,139.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.6% | 6.8% |
| Monthly Cash Flow | $477 | $850 |
City averages based on Grand Rapids market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,902 |
| Total Monthly Debt Service | $1,184 |
| DSCR Ratio | 1.61x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Multi Family
Built in 1890
6,534 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49507, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,654 (100%) |
| Owner Occupied HU | 8,476 (62.1%) |
| Renter Occupied HU | 4,606 (33.7%) |
| Vacant Housing Units | 572 ( 4.2%) |
| Median Home Value | $221,284 |
| Average Home Value | $243,171 |
Housing Distribution
Address Breakdown
Residential
12,903
Single Family
12,159
Multi-Family
744
Businesses
715
Nearby investment properties with comparable rents
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
Multi Family
Built in 1890
6,534 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49507, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,654 (100%) |
| Owner Occupied HU | 8,476 (62.1%) |
| Renter Occupied HU | 4,606 (33.7%) |
| Vacant Housing Units | 572 ( 4.2%) |
| Median Home Value | $221,284 |
| Average Home Value | $243,171 |
Housing Distribution
Address Breakdown
Residential
12,903
Single Family
12,159
Multi-Family
744
Businesses
715
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Doug E Mol • Five Star Real Estate (Main)
Mls Name: MichRIC
Mls Provider:
Mls ID: #25022537
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2025 MichRIC, LLC. All rights reserved.