115 Melrose StWall LakeIA51466
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 Wall Lake at 115 Melrose St, Wall Lake, IA, 51466 uses $41,736 cash to close to unlock $3,163/yr annual cash flow and $264/mo monthly cash flow. Total monthly income runs $1,081/mo, and a $616/mo payment keeps the spread at $264/mo. Purchase price stands at $125,900, and rental yield measures 10.3% with $1,081/mo rent. Return on cash invested shows 27.49% in year one, and 5% annual appreciation builds toward $34,784 over five years. Five-year ROI reaches 143.93% and total cumulative return in cash records $60,072. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,081/mo property income covering a $616/mo payment rather than investor’s personal income.
Single Family
Built in 1966
9,583 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51466, Wall Lake, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 504 (100%) |
| Owner Occupied HU | 375 (74.4%) |
| Renter Occupied HU | 85 (16.9%) |
| Vacant Housing Units | 44 ( 8.7%) |
| Median Home Value | $206,169 |
| Average Home Value | $237,047 |
Housing Distribution
Address Breakdown
Residential
222
Single Family
222
Multi-Family
0
Businesses
43
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Selena Flores • Century 21 The Professional Gr
Mls Name: Northwest Iowa Regional BOR
Mls Provider:
Mls ID: #828411
Disclaimer: Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing information is deemed reliable, but not guaranteed.