115 Melrose StWall LakeIA51466
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash Flow115 Melrose St, Wall Lake, IA, 51466 in Wall Lake is a solid income-producing rental, 10.31% gross yield, $1,081/mo rent, $264/mo net cash flow on a $125,900 buy. DSCR 1.91 qualifies the property for Ziffy Mortgage's financing without personal income documentation. Five-year appreciation of $34,784 and $1,160/yr in principal reduction project a total cumulative return of $64,886.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.3% | 8.0% |
| Monthly Cash Flow | $264 | $500 |
City averages based on Wall Lake market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,081 |
| Total Monthly Debt Service | $768 |
| DSCR Ratio | 1.41x |
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.
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
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
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.