505 Cherry St SE APT 514Grand RapidsMI49503
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe yield at 505 Cherry St SE APT 514, Grand Rapids, MI, 49503 in Grand Rapids speaks for itself: 16.15% gross on a $144,900 price, generating $1,950/mo in rent and $815/mo in net income after the $652/mo debt service. DSCR 2.99, a wide margin that supports Ziffy Mortgage's DSCR loan without any personal income check. Annual cash flow of $9,785 stacks alongside $40,033 in projected five-year appreciation and $1,335/yr in principal reduction. Projected total cumulative return: $108,445.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 16.2% | 6.8% |
| Monthly Cash Flow | $815 | $850 |
City averages based on Grand Rapids market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,950 |
| Total Monthly Debt Service | $1,077 |
| DSCR Ratio | 1.81x |
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.
Condo
Built in 1949
N/A lot
$N/A/sqft
$179 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
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 1949
N/A lot
$N/A/sqft
$179 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices