1824 Sherman St SEEast Grand 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
Rental property for sale in East Grand Rapids at 1824 Sherman St SE, East Grand Rapids, MI, 49506 generates $3,635/mo in rent, after a $5,323/mo payment. Total monthly income is $3,635/mo. Return on cash invested sits at 8.32% in year one, and rental yield is 4.01% on a $1,087,500 entry. Equity gained on principal adds $7,017/yr, while 5% annual appreciation builds toward $300,456 over five years. Five-year ROI reaches 41.17% and total cumulative return in cash sums $145,075. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,635/mo property income rather than buyer’s personal income.
Single Family
Built in 1922
5,227 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: Steven J Buck • Greenridge Realty (Cascade)
Mls Name: MichRIC
Mls ID: #25059380