2826 W Highgate St SE #42Grand RapidsMI49512
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeInvestors who treat current yield as secondary to long-run equity growth will find 2826 W Highgate St SE #42, Grand Rapids, MI, 49512 in Grand Rapids worth modelling. At $504,900 with a 8.59% gross yield, the $3,614/mo rent leaves $15/mo after the $2,270/mo payment, sufficient to cover costs, modest in distribution. Ziffy Mortgage's 1.59 DSCR loan can finance the acquisition without personal income documentation. Appreciation of 5%/yr is projected to add $139,495 by year five; $4,650/yr in principal reduction adds further equity. Total projected return: $194,464.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.6% | 6.8% |
| Monthly Cash Flow | $15 | $850 |
City averages based on Grand Rapids market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,614 |
| Total Monthly Debt Service | $3,399 |
| DSCR Ratio | 1.06x |
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 2024
N/A lot
$N/A/sqft
$270 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49512, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,146 (100%) |
| Owner Occupied HU | 4,073 (44.5%) |
| Renter Occupied HU | 4,640 (50.7%) |
| Vacant Housing Units | 433 ( 4.7%) |
| Median Home Value | $320,719 |
| Average Home Value | $334,005 |
Housing Distribution
Address Breakdown
Residential
8,547
Single Family
4,842
Multi-Family
3,705
Businesses
1,603
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 2024
N/A lot
$N/A/sqft
$270 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49512, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,146 (100%) |
| Owner Occupied HU | 4,073 (44.5%) |
| Renter Occupied HU | 4,640 (50.7%) |
| Vacant Housing Units | 433 ( 4.7%) |
| Median Home Value | $320,719 |
| Average Home Value | $334,005 |
Housing Distribution
Address Breakdown
Residential
8,547
Single Family
4,842
Multi-Family
3,705
Businesses
1,603
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Laura A Cummings • Best Homes of Michigan LLC
Mls Name: MichRIC
Mls Provider:
Mls ID: #24009143
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2025 MichRIC, LLC. All rights reserved.