23 1st St SW #1-3Nora SpringsIA50458
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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 Nora Springs at 23 1st St SW #1-3, Nora Springs, IA, 50458 uses $34,907 cash to close to unlock $13,398/yr annual cash flow and $1,117/mo monthly cash flow. Total monthly income runs $1,800/mo, and a $515/mo payment keeps the spread at $1,117/mo. Purchase price stands at $105,300, and rental yield measures 20.51% with $1,800/mo rent. Return on cash invested shows 58.29% in year one, and 5% annual appreciation builds toward $29,092 over five years. Five-year ROI reaches 309.15% and total cumulative return in cash records $107,916. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,800/mo property income covering a $515/mo payment rather than investor’s personal income.
Multi Family
Built in 1959
2,968 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50458, Nora Springs, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 844 (100%) |
| Owner Occupied HU | 669 (79.3%) |
| Renter Occupied HU | 112 (13.3%) |
| Vacant Housing Units | 63 ( 7.5%) |
| Median Home Value | $187,868 |
| Average Home Value | $257,474 |
Housing Distribution
Address Breakdown
Residential
588
Single Family
580
Multi-Family
8
Businesses
51
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Listed by: JENNA SHERIFF • Jane Fischer & Associates Llc
Mls Name: Greater Mason BOR
Mls Provider:
Mls ID: #250718
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.