2830 Towne House Dr NE UNIT CCedar 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
Investment property for sale in Cedar Rapids at 2830 Towne House Dr NE UNIT C, Cedar Rapids, IA, 52402 offers a 11.23% rental yield on a $199,000 purchase with $1,862/mo rent. Total monthly income registers $1,862/mo, and a $974/mo payment leaves $570/mo available for distribution. Annual cash flow reaches $6,835/yr on $65,969 to close, and return on cash invested stands at 30.27% in year one. Equity gained on principal adds $1,284/yr while 5% annual appreciation supports $54,980 over five years. Portfolio math shows five-year ROI at 158.83% and total cumulative return in cash at $104,778. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,862/mo property income against a $974/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1994
N/A lot
$N/A/sqft
No 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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