10539 Mitchell DrSpirit 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
Rental property for sale in Spirit Lake at 10539 Mitchell Dr, Spirit Lake, IA, 51360 generates $2,100/mo in rent, after a $2,885/mo payment. Total monthly income is $2,100/mo. Return on cash invested sits at 9.37% in year one, and rental yield is 4.27% on a $589,500 entry. Equity gained on principal adds $3,804/yr, while 5% annual appreciation builds toward $162,868 over five years. Five-year ROI reaches 46.68% and total cumulative return in cash sums $90,543. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,100/mo property income rather than buyer’s personal income.
Single Family
Built in 1975
6,098 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: Mary Lynn Ingvall • Ingvall Real Estate Team
Mls Name: Iowa Great Lakes BOR
Mls ID: #251430