3016 Ridgemore Dr SECedar RapidsIA52403
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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 3016 Ridgemore Dr SE, Cedar Rapids, IA, 52403 uses $89,488 cash to close to unlock $1,789/yr annual cash flow and $149/mo monthly cash flow. Total monthly income runs $1,902/mo, and a $1,321/mo payment keeps the spread at $149/mo. Purchase price stands at $269,950, and rental yield measures 8.45% with $1,902/mo rent. Return on cash invested shows 21.91% in year one, and 5% annual appreciation builds toward $74,582 over five years. Five-year ROI reaches 114.02% and total cumulative return in cash records $102,033. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,902/mo property income covering a $1,321/mo payment rather than investor’s personal income.
Single Family
Built in 1961
10,497 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52403, Cedar Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,261 (100%) |
| Owner Occupied HU | 7,355 (65.3%) |
| Renter Occupied HU | 2,954 (26.2%) |
| Vacant Housing Units | 952 ( 8.5%) |
| Median Home Value | $240,295 |
| Average Home Value | $311,384 |
Housing Distribution
Address Breakdown
Residential
10,390
Single Family
8,523
Multi-Family
1,867
Businesses
288
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Listed by: Mike Graf-Graf Home Selling Team • GRAF REAL ESTATE, ERA POWERED
Mls Name: CRAAR, CDRMLS
Mls ID: #2507721