10285 237th AveSpirit LakeIA51360
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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 Spirit Lake at 10285 237th Ave, Spirit Lake, IA, 51360 offers a 8.98% rental yield on a $359,000 purchase with $2,686/mo rent. Total monthly income registers $2,686/mo, and a $1,757/mo payment leaves $355/mo available for distribution. Annual cash flow reaches $4,255/yr on $119,009 to close, and return on cash invested stands at 23.48% in year one. Equity gained on principal adds $2,317/yr while 5% annual appreciation supports $99,185 over five years. Portfolio math shows five-year ROI at 122.42% and total cumulative return in cash at $145,687. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,686/mo property income against a $1,757/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1977
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51360, Spirit Lake, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,264 (100%) |
| Owner Occupied HU | 3,158 (43.5%) |
| Renter Occupied HU | 885 (12.2%) |
| Vacant Housing Units | 3,221 (44.3%) |
| Median Home Value | $353,365 |
| Average Home Value | $492,400 |
Housing Distribution
Address Breakdown
Residential
4,782
Single Family
4,272
Multi-Family
510
Businesses
489
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Listed by: Stephanie Johnson • Keller Williams Okoboji
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6752247