123 E 3rd St #303Cedar FallsIA50613
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayYield and appreciation often trade off, and at 123 E 3rd St #303, Cedar Falls, IA, 50613 in Cedar Falls the bet is firmly on appreciation. Rental yield 3.07%. The 3.07% gross yield on a $459,900 price is below income-first thresholds, but 5%/yr value growth projects $127,062 in equity by year five. Ziffy Mortgage's non-U.S. DSCR mortgage (0.57) finances the acquisition on rental income alone. A larger down payment (30–35%) reduces monthly debt service and tightens the spread. Total projected cumulative return: $58,511.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 3.1% | 6.5% |
| Monthly Cash Flow | $(2,111) | $850 |
City averages based on Cedar Falls market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,176 |
| Total Monthly Debt Service | $2,804 |
| DSCR Ratio | 0.42x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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.
Condo
Built in 2026
0.38 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50613, Cedar Falls, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,347 (100%) |
| Owner Occupied HU | 11,369 (62.0%) |
| Renter Occupied HU | 5,634 (30.7%) |
| Vacant Housing Units | 1,344 ( 7.3%) |
| Median Home Value | $275,639 |
| Average Home Value | $297,427 |
Housing Distribution
Address Breakdown
Residential
17,984
Single Family
15,039
Multi-Family
2,945
Businesses
1,424
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
Condo
Built in 2026
0.38 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50613, Cedar Falls, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,347 (100%) |
| Owner Occupied HU | 11,369 (62.0%) |
| Renter Occupied HU | 5,634 (30.7%) |
| Vacant Housing Units | 1,344 ( 7.3%) |
| Median Home Value | $275,639 |
| Average Home Value | $297,427 |
Housing Distribution
Address Breakdown
Residential
17,984
Single Family
15,039
Multi-Family
2,945
Businesses
1,424
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Victoria Lockard • Lockard Realty Company
Mls Name: Northeast Iowa Regional BOR
Mls ID: #20260506