2368 Watertown Way #38Grand RapidsMI49505
INVESTMENT ANALYSIS
Investment Verdict
Income-ProducingCapital preservation and steady income define 2368 Watertown Way #38, Grand Rapids, MI, 49505 in Grand Rapids. Rental yield 6.76%. The 1.25 coverage passes Ziffy Mortgage's DSCR threshold for non-U.S. residents. Five-year appreciation of $120,984 and $4,033/yr in principal reduction project total return of $125,123.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 6.8% | 6.8% |
| Monthly Cash Flow | $(664) | $850 |
City averages based on Grand Rapids market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,468 |
| Total Monthly Debt Service | $2,959 |
| DSCR Ratio | 0.83x |
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 2021
10.38 Acres 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 2021
10.38 Acres 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: Christa J Beukema • Five Star Real Estate (Ada)
Mls Name: MichRIC
Mls Provider:
Mls ID: #26011833
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2026 MichRIC, LLC. All rights reserved.