2373 Bluegrass StCedar 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
Rental property for sale in Cedar Rapids at 2373 Bluegrass St, Cedar Rapids, IA, 52402 offers $2,650/mo rent that, after a $1,664/mo payment, leaves $352/mo cash flow. Total monthly income is $2,650/mo, and annual cash flow is $4,226/yr on $112,677 cash. Return on cash invested measures 23.66% in year one, and rental yield stands at 9.36% at a $339,900 entry. Equity gained on principal adds $2,193/yr while 5% annual appreciation compounds into $93,908 by year five. Five-year ROI records 123.74% and total cumulative return in cash reaches $139,427. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,650/mo property income versus a $1,664/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Condo
Built in 2024
5,183 sqft lot
$N/A/sqft
$90 monthly 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: Twenty40 Real Estate + Development • Twenty40 Real Estate + Development
Mls Name: CRAAR, CDRMLS
Mls Provider:
Mls ID: #2406744
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.