505 Cherry St SE APT 502Grand 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 505 Cherry St SE APT 502, Grand Rapids, MI, 49503 earns from $1,489/mo rent with a $1,072/mo payment. Total monthly income totals $1,489/mo. ROI tracks 13.87% on current figures, and rental yield reads 8.16% at a $219,000 purchase. Equity gained on principal adds $1,413/yr, and 5% annual appreciation supports $60,506 over five years. Five-year ROI reaches 73.47% and total cumulative return in cash sums $53,337. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,489/mo property income instead of your personal income.
Condo
Built in 1949
N/A lot
$N/A/sqft
$410 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 |
Housing Distribution
Address Breakdown
Residential
18,278
Single Family
12,427
Multi-Family
5,851
Businesses
2,048
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Listed by: Ingrid C Anastasiu • Keller Williams GR East
Mls Name: MichRIC
Mls Provider:
Mls ID: #25014153
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2025 MichRIC, LLC. All rights reserved.