2222 1st Ave NE APT 508Cedar RapidsIA52402
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 508, Cedar Rapids, IA, 52402 uses $49,062 cash to close to unlock $5,018/yr annual cash flow and $418/mo monthly cash flow. Total monthly income runs $1,379/mo, and a $724/mo payment keeps the spread at $418/mo. Purchase price stands at $148,000, and rental yield measures 11.18% with $1,379/mo rent. Return on cash invested shows 30.14% in year one, and 5% annual appreciation builds toward $40,890 over five years. Five-year ROI reaches 158.16% and total cumulative return in cash records $77,594. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,379/mo property income covering a $724/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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jeremy Trenkamp • Realty87
Mls Name: Iowa City Area AOR
Mls ID: #202507246