2962 Circle Dr NECedar 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 2962 Circle Dr NE, Cedar Rapids, IA, 52402 uses $49,045 cash to close to unlock $2,655/yr annual cash flow and $221/mo monthly cash flow. Total monthly income runs $1,182/mo, and a $724/mo payment keeps the spread at $221/mo. Purchase price stands at $147,950, and rental yield measures 9.59% with $1,182/mo rent. Return on cash invested shows 25.32% in year one, and 5% annual appreciation builds toward $40,876 over five years. Five-year ROI reaches 132.34% and total cumulative return in cash records $64,906. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,182/mo property income covering a $724/mo payment rather than investor’s personal income.
Single Family
Built in 1947
0.56 Acres 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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Listed by: Chad Gloede • RE/MAX CONCEPTS
Mls Name: CRAAR, CDRMLS
Mls ID: #2508325