2222 1st Ave NE APT 504Cedar RapidsIA52402
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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 2222 1st Ave NE APT 504, Cedar Rapids, IA, 52402 uses $39,747 cash to close to unlock $2,534/yr annual cash flow and $211/mo monthly cash flow. Total monthly income runs $990/mo, and a $587/mo payment keeps the spread at $211/mo. Purchase price stands at $119,900, and rental yield measures 9.91% with $990/mo rent. Return on cash invested shows 26.28% in year one, and 5% annual appreciation builds toward $33,126 over five years. Five-year ROI reaches 137.58% and total cumulative return in cash records $54,684. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $990/mo property income covering a $587/mo payment rather than investor’s personal income.
Condo
Built in 1965
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52402, Cedar Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,282 (100%) |
| Owner Occupied HU | 11,711 (60.7%) |
| Renter Occupied HU | 6,275 (32.5%) |
| Vacant Housing Units | 1,296 ( 6.7%) |
| Median Home Value | $208,064 |
| Average Home Value | $237,802 |
Housing Distribution
Address Breakdown
Residential
18,597
Single Family
14,279
Multi-Family
4,318
Businesses
1,495
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Listed by: Mary Chmelicek • SKOGMAN REALTY
Mls Name: CRAAR, CDRMLS
Mls ID: #2507635