2253 Edington Dr SEGrand RapidsMI49508
INVESTMENT ANALYSIS
Investment Verdict
Income-ProducingFor first-time U.S. investors or those diversifying conservatively, 2253 Edington Dr SE, Grand Rapids, MI, 49508 in Grand Rapids offers a clean, manageable entry. Rental yield 6.38%. DSCR 1.18 qualifies for Ziffy Mortgage's no-W2 mortgage for non-U.S. residents. Long-term: 5% annual appreciation projects $82,608 in additional property value over five years, with $2,754/yr in principal equity building ownership stake. Total projected cumulative return: $89,316.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 6.4% | 6.8% |
| Monthly Cash Flow | $(728) | $850 |
City averages based on Grand Rapids market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,589 |
| Total Monthly Debt Service | $1,853 |
| DSCR Ratio | 0.86x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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.
Condo
Built in 1982
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49508, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,271 (100%) |
| Owner Occupied HU | 10,323 (63.4%) |
| Renter Occupied HU | 5,488 (33.7%) |
| Vacant Housing Units | 460 ( 2.8%) |
| Median Home Value | $292,420 |
| Average Home Value | $312,786 |
Housing Distribution
Address Breakdown
Residential
16,167
Single Family
13,226
Multi-Family
2,941
Businesses
918
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
Condo
Built in 1982
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49508, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,271 (100%) |
| Owner Occupied HU | 10,323 (63.4%) |
| Renter Occupied HU | 5,488 (33.7%) |
| Vacant Housing Units | 460 ( 2.8%) |
| Median Home Value | $292,420 |
| Average Home Value | $312,786 |
Housing Distribution
Address Breakdown
Residential
16,167
Single Family
13,226
Multi-Family
2,941
Businesses
918
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: MichRIC
Mls ID: #26008674