204 W 3rd St, Wayland, IA, 52654 | 6.39% Rental Yield

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Monthly Cash Flow: 1 - 3k+

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204 W 3rd St, Wayland, IA, 52654 | 6.39% Rental Yield | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Rental property for sale in Wayland at 204 W 3rd St, Wayland, IA, 52654 generates $1,858/mo in rent, after a $1,708/mo payment. Total monthly income is $1,858/mo. Return on cash invested sits at 15.67% in year one, and rental yield is 6.39% on a $349,000 entry. Equity gained on principal adds $2,252/yr, while 5% annual appreciation builds toward $96,422 over five years. Five-year ROI reaches 80.53% and total cumulative return in cash sums $93,168. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,858/mo property income rather than buyer’s personal income.

Single Family

Built in 1983

0.28 Acres lot

$N/A/sqft

No HOA

More details about the property

Beautiful home located in the heart of Wayland Iowa. This ranch home offers a large eat in newly painted kitchen, with new flooring and new countertops, large living room with newer carpet and vinyl replacement windows. There are 3 bedrooms on the main level with a primary suite offering a 1/2 bath and a full bath. The laundry is right off the garage with a sink and plenty of storage space. The lower level can offer so much, with a kitchenette area, full bath and finished family room space allowing a small area for separate living space or just more room for entertaining. Behind the home you will find the newer shop built in 2023. It is 36x24, insulated with concrete floors, allowing space for 2 cars and plenty of work space. The 2nd shop is 26x26 with a concrete floor and is also insulted with a furnace and AC Unit. Both shops offer door heights of 10 ft wide by 8 foot high. If you need more storage, there's a shed behind the house for tools and bikes to keep them out of your main garage. This home has been well cared for and offers so much! It's definitely a dream come true for someone needing more room to have a workshop space with room for 5 cars inside. Schedule your showing today!

Neighborhood Data

Neighborhood data shown for ZIP Code: 52654, Wayland, IA area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	703 (100%)
Owner Occupied HU	516 (73.4%)
Renter Occupied HU	151 (21.5%)
Vacant Housing Units	36 ( 5.1%)
Median Home Value	$157,589
Average Home Value	$225,053