1416 Michigan St APT A1Storm LakeIA50588
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowSolid, durable, and financeable, 1416 Michigan St APT A1, Storm Lake, IA, 50588 in Storm Lake earns a 10.88% gross yield at $139,500. Rent of $1,265/mo nets $234/mo after the $627/mo mortgage. The 2.02 DSCR signals clean DSCR underwriting through Ziffy Mortgage, with no personal income verification required. Five-year value growth of $38,541 and $1,285/yr in equity accumulation project a total cumulative return of $68,716.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.9% | 6.5% |
| Monthly Cash Flow | $234 | $150 |
City averages based on Storm Lake market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,265 |
| Total Monthly Debt Service | $975 |
| DSCR Ratio | 1.30x |
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.
Condo
Built in 1981
871.20 sqft lot
$N/A/sqft
$125 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50588, Storm Lake, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,962 (100%) |
| Owner Occupied HU | 2,950 (59.5%) |
| Renter Occupied HU | 1,537 (31.0%) |
| Vacant Housing Units | 475 ( 9.6%) |
| Median Home Value | $217,957 |
| Average Home Value | $295,617 |
Housing Distribution
Address Breakdown
Residential
4,706
Single Family
4,086
Multi-Family
620
Businesses
516
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 1981
871.20 sqft lot
$N/A/sqft
$125 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50588, Storm Lake, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,962 (100%) |
| Owner Occupied HU | 2,950 (59.5%) |
| Renter Occupied HU | 1,537 (31.0%) |
| Vacant Housing Units | 475 ( 9.6%) |
| Median Home Value | $217,957 |
| Average Home Value | $295,617 |
Housing Distribution
Address Breakdown
Residential
4,706
Single Family
4,086
Multi-Family
620
Businesses
516
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Joseph Aube • Real Estate Specialists
Mls Name: Northwest Iowa Regional BOR
Mls Provider:
Mls ID: #826778
Disclaimer: Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing information is deemed reliable, but not guaranteed.