1609 Wildwood Dr NECedar RapidsIA52402
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeAt $240,000, 1609 Wildwood Dr NE, Cedar Rapids, IA, 52402 in Cedar Rapids generates $1,720/mo in rent (8.6% yield) but nets only $161/mo after debt service. The spread is thin, manageable for investors comfortable with low-margin holds who are buying into the 5% annual appreciation thesis. Ziffy Mortgage's DSCR loan (1.59) allows non-U.S. residents to acquire without personal income checks. A larger down payment reduces the monthly debt load and widens the margin. Five-year appreciation: $66,308. Total projected return: $101,718.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.6% | 7.2% |
| Monthly Cash Flow | $161 | $450 |
City averages based on Cedar Rapids market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,720 |
| Total Monthly Debt Service | $1,463 |
| DSCR Ratio | 1.18x |
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.
Single Family
Built in 1940
7,550 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52402, Cedar Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,282 (100%) |
| Owner Occupied HU | 11,711 (60.7%) |
| Renter Occupied HU | 6,275 (32.5%) |
| Vacant Housing Units | 1,296 ( 6.7%) |
| Median Home Value | $208,064 |
| Average Home Value | $237,802 |
Housing Distribution
Address Breakdown
Residential
18,597
Single Family
14,279
Multi-Family
4,318
Businesses
1,495
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
Single Family
Built in 1940
7,550 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52402, Cedar Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,282 (100%) |
| Owner Occupied HU | 11,711 (60.7%) |
| Renter Occupied HU | 6,275 (32.5%) |
| Vacant Housing Units | 1,296 ( 6.7%) |
| Median Home Value | $208,064 |
| Average Home Value | $237,802 |
Housing Distribution
Address Breakdown
Residential
18,597
Single Family
14,279
Multi-Family
4,318
Businesses
1,495
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Annie Kaestner • SKOGMAN REALTY
Mls Name: CRAAR, CDRMLS
Mls ID: #2600355