2550 Eastern Ave SE #119Grand RapidsMI49507
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThis is a cash-flow-light asset: 2550 Eastern Ave SE #119, Grand Rapids, MI, 49507 in Grand Rapids, $231,000, 10.12% gross yield, $174/mo net income. Consider it a market-entry position, the $1,948/mo rent covers the $1,039/mo payment with a margin, and 5%/yr appreciation is projected to add $63,821 to the asset's value over five years. Ziffy Mortgage approves DSCR loans (coverage 1.87) for non-U.S. residents without domestic income documentation. Consider a higher down payment to widen the monthly margin. Total projected return: $100,346.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.1% | 6.8% |
| Monthly Cash Flow | $174 | $850 |
City averages based on Grand Rapids market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,948 |
| Total Monthly Debt Service | $1,681 |
| DSCR Ratio | 1.16x |
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 1942
N/A lot
$N/A/sqft
$250 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49507, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,654 (100%) |
| Owner Occupied HU | 8,476 (62.1%) |
| Renter Occupied HU | 4,606 (33.7%) |
| Vacant Housing Units | 572 ( 4.2%) |
| Median Home Value | $221,284 |
| Average Home Value | $243,171 |
Housing Distribution
Address Breakdown
Residential
12,903
Single Family
12,159
Multi-Family
744
Businesses
715
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 1942
N/A lot
$N/A/sqft
$250 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49507, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,654 (100%) |
| Owner Occupied HU | 8,476 (62.1%) |
| Renter Occupied HU | 4,606 (33.7%) |
| Vacant Housing Units | 572 ( 4.2%) |
| Median Home Value | $221,284 |
| Average Home Value | $243,171 |
Housing Distribution
Address Breakdown
Residential
12,903
Single Family
12,159
Multi-Family
744
Businesses
715
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Tanya D Powell-May • Keller Williams GR North
Mls Name: MichRIC
Mls Provider:
Mls ID: #25020573
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2025 MichRIC, LLC. All rights reserved.