117 S Main StElkaderIA52043
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeInvestors who treat current yield as secondary to long-run equity growth will find 117 S Main St, Elkader, IA, 52043 in Elkader worth modelling. At $175,000 with a 9.08% gross yield, the $1,324/mo rent leaves $187/mo after the $787/mo payment, sufficient to cover costs, modest in distribution. Ziffy Mortgage's 1.68 DSCR loan can finance the acquisition without personal income documentation. Appreciation of 5%/yr is projected to add $48,349 by year five; $1,612/yr in principal reduction adds further equity. Total projected return: $78,633.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.1% | 8.5% |
| Monthly Cash Flow | $187 | $1,200 |
City averages based on Elkader market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,324 |
| Total Monthly Debt Service | $1,067 |
| DSCR Ratio | 1.24x |
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 1900
4,791 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52043, Elkader, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,088 (100%) |
| Owner Occupied HU | 739 (67.9%) |
| Renter Occupied HU | 219 (20.1%) |
| Vacant Housing Units | 130 (11.9%) |
| Median Home Value | $171,366 |
| Average Home Value | $318,200 |
Housing Distribution
Address Breakdown
Residential
730
Single Family
687
Multi-Family
43
Businesses
144
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 1900
4,791 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52043, Elkader, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,088 (100%) |
| Owner Occupied HU | 739 (67.9%) |
| Renter Occupied HU | 219 (20.1%) |
| Vacant Housing Units | 130 (11.9%) |
| Median Home Value | $171,366 |
| Average Home Value | $318,200 |
Housing Distribution
Address Breakdown
Residential
730
Single Family
687
Multi-Family
43
Businesses
144
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices