15516 N Tradewind Dr UNIT 6Spirit LakeIA51360
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
Investment Highlights
Total monthly income runs $990/mo, and a $2,936/mo payment. Purchase price stands at $599,900, and rental yield measures 1.98% with $990/mo rent. Return on cash invested shows 2.39% in year one, and 5% annual appreciation builds toward $165,741 over five years. Five-year ROI reaches 9.3% and total cumulative return in cash records $18,364. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $990/mo property income covering a $2,936/mo payment rather than investor’s personal income.
Condo
Built in 1985
4,356 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51360, Spirit Lake, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,264 (100%) |
| Owner Occupied HU | 3,158 (43.5%) |
| Renter Occupied HU | 885 (12.2%) |
| Vacant Housing Units | 3,221 (44.3%) |
| Median Home Value | $353,365 |
| Average Home Value | $492,400 |
Housing Distribution
Address Breakdown
Residential
4,782
Single Family
4,272
Multi-Family
510
Businesses
489
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Mickey Harrington • Okoboji Realty
Mls Name: Iowa Great Lakes BOR
Mls ID: #250931