228 Lenora Dr NWCedar RapidsIA52405
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity Builder228 Lenora Dr NW, Cedar Rapids, IA, 52405 in Cedar Rapids is a stable, well-positioned rental at $214,900. Rental yield 7.67%. DSCR 1.30 qualifies for Ziffy Mortgage's DSCR mortgage without U.S. income documentation. Over five years, 5% appreciation adds $59,373 in value and $1,979/yr in principal paydown builds equity, a total projected return of $72,848.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.7% | 7.2% |
| Monthly Cash Flow | $(23) | $450 |
City averages based on Cedar Rapids market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,256 |
| Total Monthly Debt Service | $1,310 |
| DSCR Ratio | 0.96x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1968
6,403 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52405, Cedar Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,239 (100%) |
| Owner Occupied HU | 7,767 (69.1%) |
| Renter Occupied HU | 2,888 (25.7%) |
| Vacant Housing Units | 584 ( 5.2%) |
| Median Home Value | $199,987 |
| Average Home Value | $230,161 |
Housing Distribution
Address Breakdown
Residential
11,162
Single Family
9,355
Multi-Family
1,807
Businesses
256
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
Single Family
Built in 1968
6,403 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52405, Cedar Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,239 (100%) |
| Owner Occupied HU | 7,767 (69.1%) |
| Renter Occupied HU | 2,888 (25.7%) |
| Vacant Housing Units | 584 ( 5.2%) |
| Median Home Value | $199,987 |
| Average Home Value | $230,161 |
Housing Distribution
Address Breakdown
Residential
11,162
Single Family
9,355
Multi-Family
1,807
Businesses
256
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Zack Phillips • Pinnacle Realty LLC
Mls Name: CRAAR, CDRMLS
Mls Provider:
Mls ID: #2502868
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.