1500 Main St #204ElyIA52227
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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 Ely at 1500 Main St #204, Ely, IA, 52227 uses $73,262 cash to close to unlock $1,133/yr annual cash flow and $94/mo monthly cash flow. Total monthly income runs $1,530/mo, and a $1,082/mo payment keeps the spread at $94/mo. Purchase price stands at $221,000, and rental yield measures 8.31% with $1,530/mo rent. Return on cash invested shows 21.46% in year one, and 5% annual appreciation builds toward $61,058 over five years. Five-year ROI reaches 111.58% and total cumulative return in cash records $81,745. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,530/mo property income covering a $1,082/mo payment rather than investor’s personal income.
Condo
Built in 2025
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52227, Ely, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,232 (100%) |
| Owner Occupied HU | 996 (80.8%) |
| Renter Occupied HU | 175 (14.2%) |
| Vacant Housing Units | 61 ( 5.0%) |
| Median Home Value | $348,160 |
| Average Home Value | $409,026 |
Housing Distribution
Address Breakdown
Residential
1,063
Single Family
996
Multi-Family
67
Businesses
51
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