124 E 2nd StSpencerIA51301
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash Flow124 E 2nd St, Spencer, IA, 51301 in Spencer earns its strong cash-flow label: 12.27% yield, $1,488/mo rent, $543/mo net income, DSCR 2.28. The $145,500 acquisition cost produces immediate returns that put this property in the top tier for U.S. income assets accessible via Ziffy Mortgage's rental-income underwriting. Long-term, 5% annual appreciation adds $40,199 by year five. Combined with $1,340/yr in principal paydown, total projected return reaches $90,378.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 12.3% | 7.0% |
| Monthly Cash Flow | $543 | $300 |
City averages based on Spencer market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,488 |
| Total Monthly Debt Service | $887 |
| DSCR Ratio | 1.68x |
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 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
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 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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.