1002 Redick BlvdCarter LakeIA51510
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
Investment Highlights
Investment property for sale in Carter Lake at 1002 Redick Blvd, Carter Lake, IA, 51510 offers a 9.04% rental yield on a $195,000 purchase with $1,469/mo rent. Total monthly income registers $1,469/mo, and a $954/mo payment leaves $203/mo available for distribution. Annual cash flow reaches $2,436/yr on $64,643 to close, and return on cash invested stands at 23.68% in year one. Equity gained on principal adds $1,258/yr while 5% annual appreciation supports $53,875 over five years. Portfolio math shows five-year ROI at 123.45% and total cumulative return in cash at $79,798. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,469/mo property income against a $954/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1959
0.33 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51510, Carter Lake, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,527 (100%) |
| Owner Occupied HU | 1,108 (72.6%) |
| Renter Occupied HU | 335 (21.9%) |
| Vacant Housing Units | 84 ( 5.5%) |
| Median Home Value | $201,724 |
| Average Home Value | $226,685 |
Housing Distribution
Address Breakdown
Residential
1,484
Single Family
1,170
Multi-Family
314
Businesses
61
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Listed by: Jesse Skudler • NP Dodge RE Sales Inc Co Bluff
Mls Name: GPRMLS
Mls Provider:
Mls ID: #22507154
Disclaimer: Listing information is provided by Participants of the Great Plains Regional Multiple Listing Service Inc. 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. Copyright 2025, Great Plains Regional Multiple Listing Service, Inc.