1118 Dunham St SEGrand RapidsMI49506
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 1118 Dunham St SE, Grand Rapids, MI, 49506 in Grand Rapids at $330,000 earns $2,243/mo in rent and nets $67/mo after the $1,484/mo payment, a 8.16% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $91,173 over five years. Ziffy Mortgage underwrites this on a 1.51 DSCR without U.S. credit history. With $3,039/yr in principal paydown, total projected return reaches $130,011.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.2% | 6.8% |
| Monthly Cash Flow | $67 | $850 |
City averages based on Grand Rapids market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,243 |
| Total Monthly Debt Service | $2,045 |
| DSCR Ratio | 1.10x |
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 1941
5,662 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 1941
5,662 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
Listed by: Cristian Rodriguez • Key Realty
Mls Name: MichRIC
Mls ID: #26004855