1505 38th St SECedar RapidsIA52403
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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 Cedar Rapids at 1505 38th St SE, Cedar Rapids, IA, 52403 offers a 6.93% rental yield on a $380,000 purchase with $2,194/mo rent. 3% in year one. Equity gained on principal adds $2,452/yr while 5% annual appreciation supports $104,987 over five years. Portfolio math shows five-year ROI at 89.24% and total cumulative return in cash at $112,417. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,194/mo property income against a $1,860/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 2026
0.29 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52403, Cedar Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,261 (100%) |
| Owner Occupied HU | 7,355 (65.3%) |
| Renter Occupied HU | 2,954 (26.2%) |
| Vacant Housing Units | 952 ( 8.5%) |
| Median Home Value | $240,295 |
| Average Home Value | $311,384 |
Housing Distribution
Address Breakdown
Residential
10,390
Single Family
8,523
Multi-Family
1,867
Businesses
288
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Listed by: Kevin Heinbuch • PRK Williams Realty
Mls Name: CRAAR, CDRMLS
Mls ID: #2600007