3051 Wayne Ave UNIT 64Iowa CityIA52240
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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 Iowa City at 3051 Wayne Ave UNIT 64, Iowa City, IA, 52240 listed at $190,000 pairs $1,492/mo rent with a $930/mo payment. Total monthly income runs $1,492/mo. Return on cash invested measures 18.16% in year one, and rental yield registers 9.42% at a $190,000 basis. Equity gained on principal adds $1,226/yr, and annual property appreciation at 5% supports $52,494 by year five. Five-year ROI tracks 96.23% and total cumulative return in cash totals $60,612. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,492/mo property income relative to a $930/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 1968
N/A lot
$N/A/sqft
$350 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52240, Iowa City, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,775 (100%) |
| Owner Occupied HU | 7,727 (43.5%) |
| Renter Occupied HU | 8,334 (46.9%) |
| Vacant Housing Units | 1,714 ( 9.6%) |
| Median Home Value | $272,152 |
| Average Home Value | $318,955 |
Housing Distribution
Address Breakdown
Residential
16,235
Single Family
10,644
Multi-Family
5,591
Businesses
1,308
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Listed by: Derrick Droz • Skogman Realty Co.
Mls Name: Iowa City Area AOR
Mls Provider:
Mls ID: #202503380
Disclaimer: IDX information is provided exclusively for consumers personal, non-commercial use, that it 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 accurate by the MLS.