2360 Edington Dr SEGrand RapidsMI49508
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowTight but positive: 2360 Edington Dr SE, Grand Rapids, MI, 49508 in Grand Rapids at $219,900 earns $1,926/mo in rent and nets $117/mo after the $989/mo payment, a 10.51% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $60,754 over five years. Ziffy Mortgage underwrites this on a 1.95 DSCR without U.S. credit history. With $2,025/yr in principal paydown, total projected return reaches $92,873.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.5% | 6.8% |
| Monthly Cash Flow | $117 | $850 |
City averages based on Grand Rapids market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,926 |
| Total Monthly Debt Service | $1,722 |
| DSCR Ratio | 1.12x |
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 1986
N/A lot
$N/A/sqft
$359 monthly 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 1986
N/A lot
$N/A/sqft
$359 monthly 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: Jon M Hendrickson • Greenridge Realty (Kentwood)
Mls Name: MichRIC
Mls Provider:
Mls ID: #25012527
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2025 MichRIC, LLC. All rights reserved.