1051 Myrtle St NWGrand RapidsMI49504
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe yield at 1051 Myrtle St NW, Grand Rapids, MI, 49504 in Grand Rapids speaks for itself: 11.59% gross on a $240,000 price, generating $2,318/mo in rent and $735/mo in net income after the $1,079/mo debt service. DSCR 2.15, a wide margin that supports Ziffy Mortgage's DSCR loan without any personal income check. Annual cash flow of $8,824 stacks alongside $66,308 in projected five-year appreciation and $2,210/yr in principal reduction. Projected total cumulative return: $138,750.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.6% | 6.8% |
| Monthly Cash Flow | $735 | $850 |
City averages based on Grand Rapids market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,318 |
| Total Monthly Debt Service | $1,487 |
| DSCR Ratio | 1.56x |
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.
Single Family
Built in 1932
4,356 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49504, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,664 (100%) |
| Owner Occupied HU | 10,506 (56.3%) |
| Renter Occupied HU | 7,008 (37.5%) |
| Vacant Housing Units | 1,150 ( 6.2%) |
| Median Home Value | $258,759 |
| Average Home Value | $284,959 |
Housing Distribution
Address Breakdown
Residential
17,332
Single Family
14,985
Multi-Family
2,347
Businesses
891
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
Single Family
Built in 1932
4,356 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49504, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,664 (100%) |
| Owner Occupied HU | 10,506 (56.3%) |
| Renter Occupied HU | 7,008 (37.5%) |
| Vacant Housing Units | 1,150 ( 6.2%) |
| Median Home Value | $258,759 |
| Average Home Value | $284,959 |
Housing Distribution
Address Breakdown
Residential
17,332
Single Family
14,985
Multi-Family
2,347
Businesses
891
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Ginger Baxter • Keller Williams GR North
Mls Name: MichRIC
Mls Provider:
Mls ID: #25018543
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2025 MichRIC, LLC. All rights reserved.