2623 Iris Ave NWCedar RapidsIA52405
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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 Cedar Rapids at 2623 Iris Ave NW, Cedar Rapids, IA, 52405 uses $97,793 cash to close to unlock $4,608/yr annual cash flow and $384/mo monthly cash flow. Total monthly income runs $2,300/mo, and a $1,444/mo payment keeps the spread at $384/mo. Purchase price stands at $295,000, and rental yield measures 9.36% with $2,300/mo rent. Return on cash invested shows 24.62% in year one, and 5% annual appreciation builds toward $81,503 over five years. Five-year ROI reaches 128.5% and total cumulative return in cash records $125,666. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,300/mo property income covering a $1,444/mo payment rather than investor’s personal income.
Single Family
Built in 1981
8,319 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
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Listed by: Merle Kopel • KOPEL REALTORS and CONSULTANTS
Mls Name: CRAAR, CDRMLS
Mls ID: #2508029