1340 Elmdale St NEGrand RapidsMI49525
INVESTMENT ANALYSIS
Investment Verdict
Solid Income1340 Elmdale St NE, Grand Rapids, MI, 49525 in Grand Rapids is a solid income-producing rental, 9.41% gross yield, $2,351/mo rent, $373/mo net cash flow on a $299,900 buy. DSCR 1.74 qualifies the property for Ziffy Mortgage's financing without personal income documentation. Five-year appreciation of $82,857 and $2,762/yr in principal reduction project a total cumulative return of $138,283.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.4% | 6.8% |
| Monthly Cash Flow | $373 | $850 |
City averages based on Grand Rapids market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,351 |
| Total Monthly Debt Service | $1,858 |
| DSCR Ratio | 1.27x |
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 1966
0.34 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49525, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,066 (100%) |
| Owner Occupied HU | 9,697 (74.2%) |
| Renter Occupied HU | 2,961 (22.7%) |
| Vacant Housing Units | 408 ( 3.1%) |
| Median Home Value | $372,431 |
| Average Home Value | $442,492 |
Housing Distribution
Address Breakdown
Residential
12,785
Single Family
10,985
Multi-Family
1,800
Businesses
1,068
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 1966
0.34 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49525, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,066 (100%) |
| Owner Occupied HU | 9,697 (74.2%) |
| Renter Occupied HU | 2,961 (22.7%) |
| Vacant Housing Units | 408 ( 3.1%) |
| Median Home Value | $372,431 |
| Average Home Value | $442,492 |
Housing Distribution
Address Breakdown
Residential
12,785
Single Family
10,985
Multi-Family
1,800
Businesses
1,068
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Kevin Allen • Keller Williams GR East
Mls Name: MichRIC
Mls ID: #25033664