307 7th Ave SEIndependenceIA50644
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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 Independence at 307 7th Ave SE, Independence, IA, 50644 generates $1,247/mo in rent, after a $991/mo payment. Total monthly income is $1,247/mo. Return on cash invested sits at 18.69% in year one, and rental yield is 7.39% on a $202,500 entry. Equity gained on principal adds $1,307/yr, while 5% annual appreciation builds toward $55,947 over five years. Five-year ROI reaches 96.73% and total cumulative return in cash sums $64,933. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,247/mo property income rather than buyer’s personal income.
Single Family
Built in 1959
6,098 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50644, Independence, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,008 (100%) |
| Owner Occupied HU | 2,849 (71.1%) |
| Renter Occupied HU | 834 (20.8%) |
| Vacant Housing Units | 325 ( 8.1%) |
| Median Home Value | $194,271 |
| Average Home Value | $234,427 |
Housing Distribution
Address Breakdown
Residential
3,855
Single Family
3,588
Multi-Family
267
Businesses
351
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Listed by: Kellie Cole • Ohl Iowa Realty, Inc
Mls Name: Northeast Iowa Regional BOR
Mls ID: #20255741