1002 3rd St SWAltoonaIA50009
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors targeting immediate dollar income will find 1002 3rd St SW, Altoona, IA, 50009 in Altoona hard to pass up. The 10.21% gross yield on a $258,000 purchase results in $2,196/mo in rent and $520/mo in net cash, well above the spread required for Ziffy Mortgage's DSCR qualification (1.89). Annual cash flow of $6,245, five-year appreciation of $71,281, and $2,376/yr in equity build-up combine for a projected total cumulative return of $131,712.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.2% | 6.2% |
| Monthly Cash Flow | $520 | $450 |
City averages based on Altoona market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,196 |
| Total Monthly Debt Service | $1,573 |
| DSCR Ratio | 1.40x |
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 1975
8,276 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50009, Altoona, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,219 (100%) |
| Owner Occupied HU | 6,552 (64.1%) |
| Renter Occupied HU | 3,043 (29.8%) |
| Vacant Housing Units | 624 ( 6.1%) |
| Median Home Value | $318,899 |
| Average Home Value | $345,433 |
Housing Distribution
Address Breakdown
Residential
9,784
Single Family
8,330
Multi-Family
1,454
Businesses
564
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 1975
8,276 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50009, Altoona, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,219 (100%) |
| Owner Occupied HU | 6,552 (64.1%) |
| Renter Occupied HU | 3,043 (29.8%) |
| Vacant Housing Units | 624 ( 6.1%) |
| Median Home Value | $318,899 |
| Average Home Value | $345,433 |
Housing Distribution
Address Breakdown
Residential
9,784
Single Family
8,330
Multi-Family
1,454
Businesses
564
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Erin Herron • Realty ONE Group Impact
Mls Name: DMMLS
Mls Provider:
Mls ID: #719470
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.