2900 SE Glenstone Dr UNIT 402GrimesIA50111
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowNot flashy, but dependably profitable, 2900 SE Glenstone Dr UNIT 402, Grimes, IA, 50111 in Grimes is listed at $224,900 and delivers $1,985/mo in rent and $317/mo in net monthly cash flow. The 10.59% yield and 1.96 DSCR provide the underwriting comfort Ziffy Mortgage needs to approve a DSCR loan without W-2 or tax-return documentation. Projected 5% annual appreciation adds $62,136 over five years, and $2,071/yr in principal reduction supplements cash return. Total projected cumulative return: $106,959.
| This Property | National Avg | |
|---|---|---|
| Gross Rental Yield | 10.6% | 6.2% |
| Monthly Cash Flow | $317 | $180 |
National averages based on 2024–2025 U.S. residential rental market data. Content is user-generated and unverified.
DSCR Loan Qualification
| Monthly Rental Income | $1,985 |
| Total Monthly Debt Service | $1,578 |
| DSCR Ratio | 1.26x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 2006
N/A lot
$N/A/sqft
$207 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50111, Grimes, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,438 (100%) |
| Owner Occupied HU | 5,041 (67.8%) |
| Renter Occupied HU | 1,944 (26.1%) |
| Vacant Housing Units | 453 ( 6.1%) |
| Median Home Value | $352,789 |
| Average Home Value | $397,644 |
Housing Distribution
Address Breakdown
Residential
7,220
Single Family
6,963
Multi-Family
257
Businesses
595
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Condo
Built in 2006
N/A lot
$N/A/sqft
$207 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50111, Grimes, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,438 (100%) |
| Owner Occupied HU | 5,041 (67.8%) |
| Renter Occupied HU | 1,944 (26.1%) |
| Vacant Housing Units | 453 ( 6.1%) |
| Median Home Value | $352,789 |
| Average Home Value | $397,644 |
Housing Distribution
Address Breakdown
Residential
7,220
Single Family
6,963
Multi-Family
257
Businesses
595
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Kurt Clements • ListWithFreedom.com
Mls Name: DMMLS
Mls Provider:
Mls ID: #722712
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.