1223 Covered Wagon DrIowacityIA52240
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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 Iowacity at 1223 Covered Wagon Dr, Iowacity, IA, 52240 uses $174,337 cash to close to unlock $12,866/yr annual cash flow and $1,072/mo monthly cash flow. Total monthly income runs $4,514/mo, and a $2,594/mo payment keeps the spread at $1,072/mo. Purchase price stands at $529,900, and rental yield measures 10.22% with $4,514/mo rent. Return on cash invested shows 27.44% in year one, and 5% annual appreciation builds toward $146,402 over five years. Five-year ROI reaches 143.62% and total cumulative return in cash records $250,391. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $4,514/mo property income covering a $2,594/mo payment rather than investor’s personal income.
Single Family
Built in 2025
8,712 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52240, Iowa City, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,775 (100%) |
| Owner Occupied HU | 7,727 (43.5%) |
| Renter Occupied HU | 8,334 (46.9%) |
| Vacant Housing Units | 1,714 ( 9.6%) |
| Median Home Value | $272,152 |
| Average Home Value | $318,955 |
Housing Distribution
Address Breakdown
Residential
16,235
Single Family
10,644
Multi-Family
5,591
Businesses
1,308
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