205 E Washington St, Norway, IA, 52318 | 6.44% Rental Yield

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205 E Washington St, Norway, IA, 52318 | 6.44% 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

Investment property for sale in Norway at 205 E Washington St, Norway, IA, 52318 offers a 6.44% rental yield on a $235,000 purchase with $1,262/mo rent. 84% in year one. Equity gained on principal adds $1,516/yr while 5% annual appreciation supports $64,926 over five years. Portfolio math shows five-year ROI at 81.42% and total cumulative return in cash at $63,424. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,262/mo property income against a $1,150/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.

Single Family

Built in 1964

6,534 sqft lot

$N/A/sqft

No HOA

More details about the property

Charming and cozy three-bedroom ranch offering warm character and thoughtful updates throughout. The spacious living room features gleaming hardwood floors that flow across the main level and a large picture window that fills the space with natural light. The kitchen includes appliances, sleek cabinetry, a pantry, vinyl flooring, and a charming window above the sink with scalloped trim. Just off the kitchen, a cozy dining nook with double windows creates a bright and inviting atmosphere. The primary bedroom features double closets, and the updated full bathroom offers a stand-up shower, quartz-topped vanity, shiplap backsplash, and a convenient storage closet. Two additional guest bedrooms complete the main level. The newly finished lower level adds valuable living space with a comfortable family room accented by recessed lighting and bathroom. The laundry room includes both washer and dryer. Additional improvements include updated electrical in 2025, a new air conditioner in 2022, and newer windows, vinyl siding, and a roof with durable steel shingles. The front porch features low-maintenance, all-weather deckingperfect for relaxing outdoors. Attached garage. Get ready to call this one your HOME.

Neighborhood Data

Neighborhood data shown for ZIP Code: 52318, Norway, IA area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	393 (100%)
Owner Occupied HU	319 (81.2%)
Renter Occupied HU	43 (10.9%)
Vacant Housing Units	31 ( 7.9%)
Median Home Value	$248,529
Average Home Value	$250,274