1005 Switchgrass LnElyIA52227
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash Flow1005 Switchgrass Ln, Ely, IA, 52227 in Ely is a top-tier cash-flow asset. At $289,800 it produces $2,965/mo in rent and $1,083/mo in net monthly income, a 12.28% gross rental yield. The DSCR of 2.28 qualifies for Ziffy Mortgage's DSCR loan without W-2s or U.S. credit history. Annual cash flow: $12,997. Five-year appreciation adds $80,066, driving a total cumulative return of $179,991.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 12.3% | 6.5% |
| Monthly Cash Flow | $1,083 | $300 |
City averages based on Ely market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,965 |
| Total Monthly Debt Service | $1,767 |
| DSCR Ratio | 1.68x |
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.
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
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
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