2339 Watertown Way NEGrand RapidsMI49505
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeSolid fundamentals define the investment case at 2339 Watertown Way NE, Grand Rapids, MI, 49505 in Grand Rapids: $3,667/mo in rent, $455/mo in net income, 9.78% gross yield, 1.81 DSCR, all at $449,900. Ziffy Mortgage's DSCR mortgage qualifies using the property's income alone, clearing approval without U.S. residency or credit. Five-year equity from $124,299 in appreciation and $4,144/yr in principal paydown projects total cumulative return of $201,783.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.8% | 6.8% |
| Monthly Cash Flow | $455 | $850 |
City averages based on Grand Rapids market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,667 |
| Total Monthly Debt Service | $3,033 |
| DSCR Ratio | 1.21x |
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.
Condo
Built in 2022
N/A lot
$N/A/sqft
$245 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49505, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,709 (100%) |
| Owner Occupied HU | 9,483 (64.5%) |
| Renter Occupied HU | 4,578 (31.1%) |
| Vacant Housing Units | 648 ( 4.4%) |
| Median Home Value | $281,170 |
| Average Home Value | $311,704 |
Housing Distribution
Address Breakdown
Residential
13,974
Single Family
12,607
Multi-Family
1,367
Businesses
593
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 2022
N/A lot
$N/A/sqft
$245 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49505, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 14,709 (100%) |
| Owner Occupied HU | 9,483 (64.5%) |
| Renter Occupied HU | 4,578 (31.1%) |
| Vacant Housing Units | 648 ( 4.4%) |
| Median Home Value | $281,170 |
| Average Home Value | $311,704 |
Housing Distribution
Address Breakdown
Residential
13,974
Single Family
12,607
Multi-Family
1,367
Businesses
593
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Brandi J Harr • Reeds Realty
Mls Name: MichRIC
Mls Provider:
Mls ID: #25004638
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2025 MichRIC, LLC. All rights reserved.