3144 E Gatehouse Dr SEGrand RapidsMI49546
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderWhen a property's DSCR clears 1.5x, lenders and investors both pay attention. 3144 E Gatehouse Dr SE, Grand Rapids, MI, 49546 in Grand Rapids achieves a 1.58 ratio at $368,000: $2,611/mo rent versus $1,655/mo debt service. Rental yield 7.55%. Ziffy Mortgage's no-W2 DSCR loan is purpose-built for assets like this. The 7.55% yield compounds alongside 5% annual appreciation projecting $101,672 in value. Total projected cumulative return: $115,454.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.6% | 6.8% |
| Monthly Cash Flow | $(736) | $850 |
City averages based on Grand Rapids market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,611 |
| Total Monthly Debt Service | $2,890 |
| DSCR Ratio | 0.90x |
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.
Condo
Built in 1975
N/A lot
$N/A/sqft
$610 monthly HOA
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 1975
N/A lot
$N/A/sqft
$610 monthly HOA
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: John D Doorn • JH Realty Partners
Mls Name: MichRIC
Mls Provider:
Mls ID: #25020357
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2025 MichRIC, LLC. All rights reserved.