340 Cherry St SEGrand RapidsMI49503
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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
Investment Highlights
Investment property for sale in Grand Rapids at 340 Cherry St SE, Grand Rapids, MI, 49503 offers a 2.83% rental yield on a $960,000 purchase with $2,261/mo rent. 6% in year one. Equity gained on principal adds $6,195/yr while 5% annual appreciation supports $265,230 over five years. Portfolio math shows five-year ROI at 21.23% and total cumulative return in cash at $67,041. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,261/mo property income against a $4,699/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Multi Family
Built in 1900
6,098 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49503, Grand Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,238 (100%) |
| Owner Occupied HU | 7,149 (35.3%) |
| Renter Occupied HU | 11,464 (56.6%) |
| Vacant Housing Units | 1,625 ( 8.0%) |
| Median Home Value | $281,804 |
| Average Home Value | $332,147 |
Housing Distribution
Address Breakdown
Residential
18,278
Single Family
12,427
Multi-Family
5,851
Businesses
2,048
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Listed by: Joshua Schaub • Icon Realty Group LLC
Mls Name: MichRIC
Mls ID: #25052799