302 Spruce StCherokeeIA51012
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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 Cherokee at 302 Spruce St, Cherokee, IA, 51012 generates $1,500/mo in rent and, after a $649/mo payment, leaves $639/mo in cash flow. Total monthly income is $1,500/mo, and annual cash flow is $7,668/yr on $43,924 invested. Return on cash invested sits at 37.37% in year one, and rental yield is 13.58% on a $132,500 entry. Equity gained on principal adds $855/yr, while 5% annual appreciation builds toward $36,607 over five years. Five-year ROI reaches 196.83% and total cumulative return in cash sums $86,456. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,500/mo property income rather than buyer’s personal income.
Single Family
Built in 1905
4,356 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51012, Cherokee, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,089 (100%) |
| Owner Occupied HU | 1,995 (64.6%) |
| Renter Occupied HU | 801 (25.9%) |
| Vacant Housing Units | 293 ( 9.5%) |
| Median Home Value | $181,510 |
| Average Home Value | $214,591 |
Housing Distribution
Address Breakdown
Residential
2,842
Single Family
2,479
Multi-Family
363
Businesses
342
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Listed by: Rusty W Rasmus • Rasmus Realty & Auction
Mls Name: Northwest Iowa Regional BOR
Mls Provider:
Mls ID: #826173
Disclaimer: Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing information is deemed reliable, but not guaranteed.