1005 Switchgrass LnElyIA52227
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
Rental property for sale in Ely at 1005 Switchgrass Ln, Ely, IA, 52227 offers $2,965/mo rent that, after a $1,418/mo payment, leaves $1,083/mo cash flow. Total monthly income is $2,965/mo, and annual cash flow is $13,000/yr on $96,069 cash. Return on cash invested measures 33.44% in year one, and rental yield stands at 12.28% at a $289,800 entry. Equity gained on principal adds $1,870/yr while 5% annual appreciation compounds into $80,066 by year five. Five-year ROI records 175.83% and total cumulative return in cash reaches $168,913. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,965/mo property income versus a $1,418/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Home Type Unknown
Built in 2023
5,805 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52227, Ely, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,232 (100%) |
| Owner Occupied HU | 996 (80.8%) |
| Renter Occupied HU | 175 (14.2%) |
| Vacant Housing Units | 61 ( 5.0%) |
| Median Home Value | $348,160 |
| Average Home Value | $409,026 |
Housing Distribution
Address Breakdown
Residential
1,063
Single Family
996
Multi-Family
67
Businesses
51
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices