3505 Wallace DrGrand IslandNY14072
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowStrong cash flow defines 3505 Wallace Dr, Grand Island, NY, 14072 in Grand Island: $2,600/mo in rent, $932/mo net, 12.49% gross yield, all on a $249,900 acquisition. The 2.31 coverage ratio comfortably clears Ziffy Mortgage's threshold, enabling foreign-national buyers to close without U.S. credit documentation. Over five years, 5% appreciation adds $69,043 in value, and $2,302/yr in principal paydown steadily builds equity. Projected total cumulative return: $155,237.
| This Property | National Avg | |
|---|---|---|
| Gross Rental Yield | 12.5% | 6.2% |
| Monthly Cash Flow | $932 | $180 |
National averages based on 2024–2025 U.S. residential rental market data. Content is user-generated and unverified.
DSCR Loan Qualification
| Monthly Rental Income | $2,600 |
| Total Monthly Debt Service | $1,569 |
| DSCR Ratio | 1.66x |
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.
Single Family
Built in 1942
6,751 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 14072, Grand Island, NY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,299 (100%) |
| Owner Occupied HU | 6,952 (74.8%) |
| Renter Occupied HU | 1,903 (20.5%) |
| Vacant Housing Units | 444 ( 4.8%) |
| Median Home Value | $347,929 |
| Average Home Value | $374,130 |
Housing Distribution
Address Breakdown
Residential
9,046
Single Family
8,081
Multi-Family
965
Businesses
513
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 1942
6,751 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 14072, Grand Island, NY area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,299 (100%) |
| Owner Occupied HU | 6,952 (74.8%) |
| Renter Occupied HU | 1,903 (20.5%) |
| Vacant Housing Units | 444 ( 4.8%) |
| Median Home Value | $347,929 |
| Average Home Value | $374,130 |
Housing Distribution
Address Breakdown
Residential
9,046
Single Family
8,081
Multi-Family
965
Businesses
513
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Geraldine A Andolina • Century 21 North East
Mls Name: NYSAMLSs
Mls ID: #B1626309