302 3rd St NEMitchellvilleIA50169
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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 Mitchellville at 302 3rd St NE, Mitchellville, IA, 50169 generates $1,853/mo in rent and, after a $1,154/mo payment, leaves $322/mo in cash flow. Total monthly income is $1,853/mo, and annual cash flow is $3,861/yr on $78,168 invested. Return on cash invested sits at 24.85% in year one, and rental yield is 9.43% on a $235,800 entry. Equity gained on principal adds $1,522/yr, while 5% annual appreciation builds toward $65,147 over five years. Five-year ROI reaches 129.73% and total cumulative return in cash sums $101,404. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,853/mo property income rather than buyer’s personal income.
Single Family
Built in 1955
9,670 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50169, Mitchellville, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,159 (100%) |
| Owner Occupied HU | 887 (76.5%) |
| Renter Occupied HU | 203 (17.5%) |
| Vacant Housing Units | 69 ( 6.0%) |
| Median Home Value | $309,928 |
| Average Home Value | $321,812 |
Housing Distribution
Address Breakdown
Residential
1,004
Single Family
962
Multi-Family
42
Businesses
34
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Listed by: Wayde Burkhart • Realty ONE Group Impact
Mls Name: DMMLS
Mls ID: #732157