2616 Lexington DrNorwalkIA50211
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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 Norwalk at 2616 Lexington Dr, Norwalk, IA, 50211 uses $79,229 cash to close to unlock $1,375/yr annual cash flow and $115/mo monthly cash flow. Total monthly income runs $1,667/mo, and a $1,170/mo payment keeps the spread at $115/mo. Purchase price stands at $239,000, and rental yield measures 8.37% with $1,667/mo rent. Return on cash invested shows 21.64% in year one, and 5% annual appreciation builds toward $66,031 over five years. Five-year ROI reaches 112.57% and total cumulative return in cash records $89,184. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,667/mo property income covering a $1,170/mo payment rather than investor’s personal income.
Condo
Built in 2019
1,202 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50211, Norwalk, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,447 (100%) |
| Owner Occupied HU | 5,103 (79.2%) |
| Renter Occupied HU | 1,010 (15.7%) |
| Vacant Housing Units | 334 ( 5.2%) |
| Median Home Value | $312,678 |
| Average Home Value | $345,686 |
Housing Distribution
Address Breakdown
Residential
6,803
Single Family
6,186
Multi-Family
617
Businesses
254
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