1114 Hermitage St SEGrand RapidsMI49506
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe yield at 1114 Hermitage St SE, Grand Rapids, MI, 49506 in Grand Rapids speaks for itself: 15.76% gross on a $299,900 price, generating $3,938/mo in rent and $1,961/mo in net income after the $1,349/mo debt service. DSCR 2.92, a wide margin that supports Ziffy Mortgage's DSCR loan without any personal income check. Annual cash flow of $23,529 stacks alongside $82,857 in projected five-year appreciation and $2,762/yr in principal reduction. Projected total cumulative return: $240,403.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 15.8% | 6.8% |
| Monthly Cash Flow | $1,961 | $850 |
City averages based on Grand Rapids market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,938 |
| Total Monthly Debt Service | $1,858 |
| DSCR Ratio | 2.12x |
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 1910
3,049 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
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 1910
3,049 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices