1236 State Highway 48EssexIA51638
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
Rental property for sale in Essex at 1236 State Highway 48, Essex, IA, 51638 generates $1,976/mo in rent, after a $2,203/mo payment. Total monthly income is $1,976/mo. Return on cash invested sits at 12.29% in year one, and rental yield is 5.27% on a $450,000 entry. Equity gained on principal adds $2,904/yr, while 5% annual appreciation builds toward $124,327 over five years. Five-year ROI reaches 62.39% and total cumulative return in cash sums $93,066. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,976/mo property income rather than buyer’s personal income.
Single Family
Built in 1900
2.58 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51638, Essex, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 587 (100%) |
| Owner Occupied HU | 419 (71.4%) |
| Renter Occupied HU | 113 (19.3%) |
| Vacant Housing Units | 55 ( 9.4%) |
| Median Home Value | $125,463 |
| Average Home Value | $186,390 |
Housing Distribution
Address Breakdown
Residential
335
Single Family
301
Multi-Family
34
Businesses
32
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Nearby investment properties with comparable prices
Listed by: Lynn Christensen • RE/MAX Iowa Real Estate Group
Mls Name: GPRMLS
Mls Provider:
Mls ID: #22519371
Disclaimer: Listing information is provided by Participants of the Great Plains Regional Multiple Listing Service Inc. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2025, Great Plains Regional Multiple Listing Service, Inc.