1815 NE Heritage DrGrimesIA50111
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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
Rental property for sale in Grimes at 1815 NE Heritage Dr, Grimes, IA, 50111 generates $2,592/mo in rent and, after a $1,701/mo payment, leaves $314/mo in cash flow. Total monthly income is $2,592/mo, and annual cash flow is $3,763/yr on $115,196 invested. Return on cash invested sits at 23.18% in year one, and rental yield is 8.95% on a $347,500 entry. Equity gained on principal adds $2,242/yr, while 5% annual appreciation builds toward $96,008 over five years. Five-year ROI reaches 120.86% and total cumulative return in cash sums $139,221. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,592/mo property income rather than buyer’s personal income.
Single Family
Built in 2019
6,054 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50111, Grimes, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,438 (100%) |
| Owner Occupied HU | 5,041 (67.8%) |
| Renter Occupied HU | 1,944 (26.1%) |
| Vacant Housing Units | 453 ( 6.1%) |
| Median Home Value | $352,789 |
| Average Home Value | $397,644 |
Housing Distribution
Address Breakdown
Residential
7,220
Single Family
6,963
Multi-Family
257
Businesses
595
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Listed by: JIM MANDERFIELD, CRS, GRI • Iowa Realty Mills Crossing
Mls Name: DMMLS
Mls Provider:
Mls ID: #715425
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.