126 Cardinal CtIndependenceIA50644
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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
Rental property for sale in Independence at 126 Cardinal Ct, Independence, IA, 50644 offers $1,489/mo rent that, after a $1,003/mo payment, leaves $158/mo cash flow. Total monthly income is $1,489/mo, and annual cash flow is $1,896/yr on $67,958 cash. Return on cash invested measures 22.7% in year one, and rental yield stands at 8.72% at a $205,000 entry. Equity gained on principal adds $1,323/yr while 5% annual appreciation compounds into $56,638 by year five. Five-year ROI records 118.19% and total cumulative return in cash reaches $80,322. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,489/mo property income versus a $1,003/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Condo
Built in 2004
0.29 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50644, Independence, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,008 (100%) |
| Owner Occupied HU | 2,849 (71.1%) |
| Renter Occupied HU | 834 (20.8%) |
| Vacant Housing Units | 325 ( 8.1%) |
| Median Home Value | $194,271 |
| Average Home Value | $234,427 |
Housing Distribution
Address Breakdown
Residential
3,855
Single Family
3,588
Multi-Family
267
Businesses
351
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Listed by: Kellie Cole • Ohl Iowa Realty, Inc
Mls Name: Northeast Iowa Regional BOR
Mls ID: #20255877