1509 3rd St SWMount VernonIA52314
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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 Mount Vernon at 1509 3rd St SW, Mount Vernon, IA, 52314 offers a 8.37% rental yield on a $424,950 purchase with $2,964/mo rent. Total monthly income registers $2,964/mo, and a $2,080/mo payment leaves $204/mo available for distribution. Annual cash flow reaches $2,449/yr on $140,871 to close, and return on cash invested stands at 21.65% in year one. Equity gained on principal adds $2,742/yr while 5% annual appreciation supports $117,406 over five years. Portfolio math shows five-year ROI at 112.59% and total cumulative return in cash at $158,605. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,964/mo property income against a $2,080/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 2023
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52314, Mount Vernon, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,143 (100%) |
| Owner Occupied HU | 1,617 (75.5%) |
| Renter Occupied HU | 379 (17.7%) |
| Vacant Housing Units | 147 ( 6.9%) |
| Median Home Value | $330,475 |
| Average Home Value | $363,694 |
Housing Distribution
Address Breakdown
Residential
2,012
Single Family
1,944
Multi-Family
68
Businesses
186
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Listed by: Meridith Hoffman • Pinnacle Realty LLC
Mls Name: CRAAR, CDRMLS
Mls ID: #2507915