1612 Shoreway RdStorm LakeIA50588
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayNot all U.S. investment properties are valued for current income. 1612 Shoreway Rd, Storm Lake, IA, 50588 in Storm Lake at $845,000, 4.96% gross yield, is a market-growth asset. Rental yield 4.96%. The $3,491/mo rent partially funds the $3,800/mo debt service; the core return is the 5%/yr price growth projected to add $233,458 over five years. Ziffy Mortgage's DSCR mortgage (0.92) provides financing for foreign nationals without domestic income checks. A 30–35% down payment often produces the cleanest coverage for low-yield properties. Total five-year return: $187,728.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 5% | 6.5% |
| Monthly Cash Flow | $(2,086) | $150 |
City averages based on Storm Lake market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,491 |
| Total Monthly Debt Service | $5,240 |
| DSCR Ratio | 0.67x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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 1967
0.41 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50588, Storm Lake, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,962 (100%) |
| Owner Occupied HU | 2,950 (59.5%) |
| Renter Occupied HU | 1,537 (31.0%) |
| Vacant Housing Units | 475 ( 9.6%) |
| Median Home Value | $217,957 |
| Average Home Value | $295,617 |
Housing Distribution
Address Breakdown
Residential
4,706
Single Family
4,086
Multi-Family
620
Businesses
516
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 1967
0.41 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50588, Storm Lake, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,962 (100%) |
| Owner Occupied HU | 2,950 (59.5%) |
| Renter Occupied HU | 1,537 (31.0%) |
| Vacant Housing Units | 475 ( 9.6%) |
| Median Home Value | $217,957 |
| Average Home Value | $295,617 |
Housing Distribution
Address Breakdown
Residential
4,706
Single Family
4,086
Multi-Family
620
Businesses
516
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Austin Stuhr • Signature Real Estate Group of Iowa
Mls Name: Northwest Iowa Regional BOR
Mls Provider:
Mls ID: #829133
Disclaimer: Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing information is deemed reliable, but not guaranteed.