1138 Thomas St SEGrand RapidsMI49506
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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 1138 Thomas St SE, Grand Rapids, MI, 49506 listed at $314,900 pairs $2,230/mo rent with a $1,541/mo payment to leave $154/mo cash flow. Total monthly income runs $2,230/mo, and annual cash flow reaches $1,844/yr on $104,389 cash to close. Return on cash invested measures 21.68% in year one, and rental yield registers 8.5% at a $314,900 basis. Equity gained on principal adds $2,032/yr, and annual property appreciation at 5% supports $87,001 by year five. Five-year ROI tracks 112.85% and total cumulative return in cash totals $117,802. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $2,230/mo property income relative to a $1,541/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1910
3,920 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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Listed by: Brittany L Thomas • United Realty Services LLC
Mls Name: MichRIC
Mls ID: #25049512