2089 Elmer Dr NEGrand RapidsMI49525
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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 Grand Rapids at 2089 Elmer Dr NE, Grand Rapids, MI, 49525 generates $3,900/mo in rent and, after a $1,908/mo payment, leaves $1,329/mo in cash flow. Total monthly income is $3,900/mo, and annual cash flow is $15,950/yr on $129,252 invested. Return on cash invested sits at 32.25% in year one, and rental yield is 12% on a $389,900 entry. Equity gained on principal adds $2,516/yr, while 5% annual appreciation builds toward $107,722 over five years. Five-year ROI reaches 169.57% and total cumulative return in cash sums $219,169. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,900/mo property income rather than buyer’s personal income.
Single Family
Built in 1979
0.28 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
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Listed by: Sandra M DeHamer • Berkshire Hathaway HomeServices Michigan Real Estate (Main)
Mls Name: MichRIC
Mls ID: #25048664