124 E 2nd StSpencerIA51301
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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 Spencer at 124 E 2nd St, Spencer, IA, 51301 with 5% annual appreciation on a $145,500 basis while $1,488/mo rent supports operations. Total monthly income totals $1,488/mo and a $712/mo payment preserves $543/mo for cash returns. Annual cash flow comes to $6,518/yr on $48,233 deployed, and return on cash invested reaches 33.42% in year one. Equity gained on principal adds $939/yr, and five-year appreciation sums $40,199 alongside rental yield of 12.27%. Five-year ROI measures 175.81% and total cumulative return in cash totals $84,801.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $1,488/mo property income versus a $712/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Single Family
Built in 1953
5,227 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51301, Spencer, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,257 (100%) |
| Owner Occupied HU | 3,762 (60.1%) |
| Renter Occupied HU | 1,788 (28.6%) |
| Vacant Housing Units | 707 (11.3%) |
| Median Home Value | $196,406 |
| Average Home Value | $264,591 |
Housing Distribution
Address Breakdown
Residential
5,949
Single Family
4,996
Multi-Family
953
Businesses
663
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Listed by: Kim Bates • Northwest Iowa Realty
Mls Name: Iowa Great Lakes BOR
Mls Provider:
Mls ID: #241229
Disclaimer: 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.