308 Elder StCouncil BluffsIA51503
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe yield at 308 Elder St, Council Bluffs, IA, 51503 in Council Bluffs speaks for itself: 13.97% gross on a $186,500 price, generating $2,171/mo in rent and $960/mo in net income after the $839/mo debt service. DSCR 2.59, a wide margin that supports Ziffy Mortgage's DSCR loan without any personal income check. Annual cash flow of $11,515 stacks alongside $51,527 in projected five-year appreciation and $1,718/yr in principal reduction. Projected total cumulative return: $132,726.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 14% | 7.2% |
| Monthly Cash Flow | $960 | $450 |
City averages based on Council Bluffs market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,171 |
| Total Monthly Debt Service | $1,137 |
| DSCR Ratio | 1.91x |
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
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51503, Council Bluffs, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,228 (100%) |
| Owner Occupied HU | 10,261 (63.2%) |
| Renter Occupied HU | 4,873 (30.0%) |
| Vacant Housing Units | 1,094 ( 6.7%) |
| Median Home Value | $279,939 |
| Average Home Value | $335,167 |
Housing Distribution
Address Breakdown
Residential
15,841
Single Family
13,738
Multi-Family
2,103
Businesses
761
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
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51503, Council Bluffs, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,228 (100%) |
| Owner Occupied HU | 10,261 (63.2%) |
| Renter Occupied HU | 4,873 (30.0%) |
| Vacant Housing Units | 1,094 ( 6.7%) |
| Median Home Value | $279,939 |
| Average Home Value | $335,167 |
Housing Distribution
Address Breakdown
Residential
15,841
Single Family
13,738
Multi-Family
2,103
Businesses
761
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Parker Smith • BHHS Ambassador - CB
Mls Name: SWIAR
Mls ID: #25-946
Disclaimer: Copyright Southwest Iowa Association of Realtors. All rights reserved. Data is deemed reliable but is not guaranteed accurate by the MLS.