1922 23rd St #9Spirit LakeIA51360
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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 Spirit Lake at 1922 23rd St #9, Spirit Lake, IA, 51360 listed at $187,900 pairs $990/mo rent with a $920/mo payment. Total monthly income runs $990/mo. Return on cash invested measures 11.59% in year one, and rental yield registers 6.32% at a $187,900 basis. Equity gained on principal adds $1,212/yr, and annual property appreciation at 5% supports $51,913 by year five. Five-year ROI tracks 60.13% and total cumulative return in cash totals $37,453. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $990/mo property income relative to a $920/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 1995
4,791 sqft lot
$N/A/sqft
$604 quarterly 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
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Listed by: Tracey Radcliffe • EXIT Realty Midwest
Mls Name: Iowa Great Lakes BOR
Mls Provider:
Mls ID: #250358
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.