2602 Union AveSpirit LakeIA51360
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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 Spirit Lake at 2602 Union Ave, Spirit Lake, IA, 51360 listed at $489,900 pairs $1,380/mo rent with a $2,398/mo payment. Total monthly income runs $1,380/mo. Return on cash invested measures 6.6% in year one, and rental yield registers 3.38% at a $489,900 basis. Equity gained on principal adds $3,161/yr, and annual property appreciation at 5% supports $135,350 by year five. Five-year ROI tracks 31.86% and total cumulative return in cash totals $51,749. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,380/mo property income relative to a $2,398/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 2018
0.33 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51360, Spirit Lake, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,264 (100%) |
| Owner Occupied HU | 3,158 (43.5%) |
| Renter Occupied HU | 885 (12.2%) |
| Vacant Housing Units | 3,221 (44.3%) |
| Median Home Value | $353,365 |
| Average Home Value | $492,400 |
Housing Distribution
Address Breakdown
Residential
4,782
Single Family
4,272
Multi-Family
510
Businesses
489
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Listed by: Nick Steffes • Integrity Real Estate
Mls Name: Iowa Great Lakes BOR
Mls ID: #250886