2424 Promise Dr SEGrand RapidsMI49508
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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
Investment property for sale in Grand Rapids at 2424 Promise Dr SE, Grand Rapids, MI, 49508 offers a 8.46% rental yield on a $485,000 purchase with $3,420/mo rent. Total monthly income registers $3,420/mo, and a $2,374/mo payment leaves $222/mo available for distribution. Annual cash flow reaches $2,658/yr on $160,778 to close, and return on cash invested stands at 21.56% in year one. Equity gained on principal adds $3,130/yr while 5% annual appreciation supports $133,997 over five years. Portfolio math shows five-year ROI at 112.26% and total cumulative return in cash at $180,482. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,420/mo property income against a $2,374/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 2025
0.27 Acres 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
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Listed by: Jenny Valliere • Keller Williams GR East
Mls Name: MichRIC
Mls ID: #26000443