2131 1st Ave SE #116Cedar 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
Investment property for sale in Cedar Rapids at 2131 1st Ave SE #116, Cedar Rapids, IA, 52403 uses $36,299 cash to close to unlock $1,690/yr annual cash flow and $141/mo monthly cash flow. Total monthly income runs $852/mo, and a $536/mo payment keeps the spread at $141/mo. Purchase price stands at $109,500, and rental yield measures 9.34% with $852/mo rent. Return on cash invested shows 24.56% in year one, and 5% annual appreciation builds toward $30,253 over five years. Five-year ROI reaches 128.26% and total cumulative return in cash records $46,559. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $852/mo property income covering a $536/mo payment rather than investor’s personal income.
Condo
Built in 1979
N/A lot
$N/A/sqft
No 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: Judith Sloane • SKOGMAN REALTY
Mls Name: CRAAR, CDRMLS
Mls ID: #2509161