2907 SE Covenant DrGrimesIA50111
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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
Rental property for sale in Grimes at 2907 SE Covenant Dr, Grimes, IA, 50111 priced at $140,000 converts $1,062/mo rent into $153/mo cash flow after a $685/mo obligation. Total monthly income equals $1,062/mo, and annual cash flow totals $1,836/yr on $46,410 invested. Return on cash invested prints 23.87% in year one, and rental yield reads 9.1% against a $140,000 entry. Equity gained on principal adds $903/yr, while 5% annual appreciation compiles into $38,679 by year five. Five-year ROI reaches 124.44% and total cumulative return in cash sums $57,754. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,062/mo property income covering a $685/mo payment, not borrower’s personal income.
Single Family
Built in 2004
N/A lot
$N/A/sqft
No 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
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