2678 Richmond St NWGrand RapidsMI49504
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayAt a 5.71% gross rental yield, 2678 Richmond St NW, Grand Rapids, MI, 49504 in Grand Rapids is priced for capital growth, not immediate cash flow. The $574,600 purchase reflects market confidence in future value: at 5%/yr, the property is forecast to gain $158,751 by year five, with $5,292/yr in additional equity from loan paydown. Ziffy Mortgage's DSCR mortgage (1.16) qualifies for non-U.S. residents without personal income documents. Total five-year projected cumulative return: $167,876.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 5.7% | 6.8% |
| Monthly Cash Flow | $(1,158) | $850 |
City averages based on Grand Rapids market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,996 |
| Total Monthly Debt Service | $3,561 |
| DSCR Ratio | 0.84x |
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 1973
0.69 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49504, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,664 (100%) |
| Owner Occupied HU | 10,506 (56.3%) |
| Renter Occupied HU | 7,008 (37.5%) |
| Vacant Housing Units | 1,150 ( 6.2%) |
| Median Home Value | $258,759 |
| Average Home Value | $284,959 |
Housing Distribution
Address Breakdown
Residential
17,332
Single Family
14,985
Multi-Family
2,347
Businesses
891
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 1973
0.69 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49504, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,664 (100%) |
| Owner Occupied HU | 10,506 (56.3%) |
| Renter Occupied HU | 7,008 (37.5%) |
| Vacant Housing Units | 1,150 ( 6.2%) |
| Median Home Value | $258,759 |
| Average Home Value | $284,959 |
Housing Distribution
Address Breakdown
Residential
17,332
Single Family
14,985
Multi-Family
2,347
Businesses
891
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: undefined
Mls ID: #N/A