1953 1st Ave NE #302Cedar RapidsIA52403
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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 Cedar Rapids at 1953 1st Ave NE #302, Cedar Rapids, IA, 52403 generates $2,106/mo in rent, after a $1,811/mo payment. Total monthly income is $2,106/mo. Return on cash invested sits at 13.72% in year one, and rental yield is 6.83% on a $370,000 entry. Equity gained on principal adds $2,388/yr, while 5% annual appreciation builds toward $102,224 over five years. Five-year ROI reaches 71.27% and total cumulative return in cash sums $87,413. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,106/mo property income rather than buyer’s personal income.
Condo
Built in 2023
N/A lot
$N/A/sqft
$4,027 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52403, Cedar Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,261 (100%) |
| Owner Occupied HU | 7,355 (65.3%) |
| Renter Occupied HU | 2,954 (26.2%) |
| Vacant Housing Units | 952 ( 8.5%) |
| Median Home Value | $240,295 |
| Average Home Value | $311,384 |
Housing Distribution
Address Breakdown
Residential
10,390
Single Family
8,523
Multi-Family
1,867
Businesses
288
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Listed by: Debra Callahan • RE/MAX Concepts
Mls Name: Iowa City Area AOR
Mls Provider:
Mls ID: #202402889
Disclaimer: IDX information is provided exclusively for consumers personal, non-commercial use, that it 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 accurate by the MLS.