505 Cherry St SE APT 201, Grand Rapids, MI, 49503 | $110/mo Cash Flow

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Investment property for sale in Grand Rapids at 505 Cherry St SE APT 201, Grand Rapids, MI, 49503 uses $65,803 cash to close to unlock $1,315/yr annual cash flow and $110/mo monthly cash flow. Total monthly income runs $1,808/mo, and a $972/mo payment keeps the spread at $110/mo. Purchase price stands at $198,500, and rental yield measures 10.93% with $1,808/mo rent. Return on cash invested shows 21.91% in year one, and 5% annual appreciation builds toward $54,842 over five years. Five-year ROI reaches 116.7% and total cumulative return in cash records $76,793. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,808/mo property income covering a $972/mo payment rather than investor’s personal income.

Condo

Built in 1949

1.86 Acres lot

$N/A/sqft

$389 monthly 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