2987 Park PlNorwalkIA50211
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeNot flashy, but dependably profitable, 2987 Park Pl, Norwalk, IA, 50211 in Norwalk is listed at $283,900 and delivers $2,130/mo in rent and $323/mo in net monthly cash flow. The 9.35% yield and 1.67 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 $78,436 over five years, and $2,615/yr in principal reduction supplements cash return. Total projected cumulative return: $123,681.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.4% | 6.1% |
| Monthly Cash Flow | $323 | $1,450 |
City averages based on Norwalk market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,130 |
| Total Monthly Debt Service | $1,777 |
| DSCR Ratio | 1.20x |
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.
Single Family
Built in 2008
3,920 sqft lot
$N/A/sqft
$550 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50211, Norwalk, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,447 (100%) |
| Owner Occupied HU | 5,103 (79.2%) |
| Renter Occupied HU | 1,010 (15.7%) |
| Vacant Housing Units | 334 ( 5.2%) |
| Median Home Value | $312,678 |
| Average Home Value | $345,686 |
Housing Distribution
Address Breakdown
Residential
6,803
Single Family
6,186
Multi-Family
617
Businesses
254
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
Single Family
Built in 2008
3,920 sqft lot
$N/A/sqft
$550 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50211, Norwalk, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,447 (100%) |
| Owner Occupied HU | 5,103 (79.2%) |
| Renter Occupied HU | 1,010 (15.7%) |
| Vacant Housing Units | 334 ( 5.2%) |
| Median Home Value | $312,678 |
| Average Home Value | $345,686 |
Housing Distribution
Address Breakdown
Residential
6,803
Single Family
6,186
Multi-Family
617
Businesses
254
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Lisa Davis • RE/MAX Precision
Mls Name: DMMLS
Mls Provider:
Mls ID: #718217
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.