2433 Gilmour StEast Grand RapidsMI49506
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderReliable and efficiently structured, 2433 Gilmour St, East Grand Rapids, MI, 49506 in East Grand Rapids is a conservative rental investment at $1,388,000. Rental yield 7.02%. A 1.30 coverage ratio meets Ziffy Mortgage's DSCR standard for foreign-national financing. Five-year equity: 5% appreciation adds $383,479; $12,784/yr in principal paydown supplements. Total projected return: $461,915.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7% | 6.8% |
| Monthly Cash Flow | $(1,039) | $350 |
City averages based on East Grand Rapids market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $8,114 |
| Total Monthly Debt Service | $8,601 |
| DSCR Ratio | 0.94x |
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.
Single Family
Built in 2024
5,662 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49506, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,282 (100%) |
| Owner Occupied HU | 9,333 (70.3%) |
| Renter Occupied HU | 3,352 (25.2%) |
| Vacant Housing Units | 597 ( 4.5%) |
| Median Home Value | $381,078 |
| Average Home Value | $459,706 |
Housing Distribution
Address Breakdown
Residential
12,765
Single Family
11,674
Multi-Family
1,091
Businesses
601
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
Single Family
Built in 2024
5,662 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49506, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,282 (100%) |
| Owner Occupied HU | 9,333 (70.3%) |
| Renter Occupied HU | 3,352 (25.2%) |
| Vacant Housing Units | 597 ( 4.5%) |
| Median Home Value | $381,078 |
| Average Home Value | $459,706 |
Housing Distribution
Address Breakdown
Residential
12,765
Single Family
11,674
Multi-Family
1,091
Businesses
601
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices