308 3rd Ave SWState CenterIA50247
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeSolid fundamentals define the investment case at 308 3rd Ave SW, State Center, IA, 50247 in State Center: $1,856/mo in rent, $246/mo in net income, 8.98% gross yield, 1.66 DSCR, all at $248,000. Ziffy Mortgage's DSCR mortgage qualifies using the property's income alone, clearing approval without U.S. residency or credit. Five-year equity from $68,518 in appreciation and $2,284/yr in principal paydown projects total cumulative return of $110,213.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9% | 6.0% |
| Monthly Cash Flow | $246 | $200 |
City averages based on State Center market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,856 |
| Total Monthly Debt Service | $1,512 |
| DSCR Ratio | 1.23x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1900
0.32 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50247, State Center, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 987 (100%) |
| Owner Occupied HU | 719 (72.8%) |
| Renter Occupied HU | 188 (19.0%) |
| Vacant Housing Units | 80 ( 8.1%) |
| Median Home Value | $202,966 |
| Average Home Value | $249,979 |
Housing Distribution
Address Breakdown
Residential
628
Single Family
591
Multi-Family
37
Businesses
61
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Single Family
Built in 1900
0.32 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50247, State Center, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 987 (100%) |
| Owner Occupied HU | 719 (72.8%) |
| Renter Occupied HU | 188 (19.0%) |
| Vacant Housing Units | 80 ( 8.1%) |
| Median Home Value | $202,966 |
| Average Home Value | $249,979 |
Housing Distribution
Address Breakdown
Residential
628
Single Family
591
Multi-Family
37
Businesses
61
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Miranda Brockman • RE/MAX REAL ESTATE CENTER
Mls Name: CIBR
Mls Provider:
Mls ID: #67633
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. Data is deemed reliable but not accurate.