312 Elm StCorrectionvilleIA51016
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThis is a cash-flow-light asset: 312 Elm St, Correctionville, IA, 51016 in Correctionville, $146,400, 9.12% gross yield, $162/mo net income. Consider it a market-entry position, the $1,113/mo rent covers the $658/mo payment with a margin, and 5%/yr appreciation is projected to add $40,448 to the asset's value over five years. Ziffy Mortgage approves DSCR loans (coverage 1.69) for non-U.S. residents without domestic income documentation. Consider a higher down payment to widen the monthly margin. Total projected return: $66,170.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.1% | 5.0% |
| Monthly Cash Flow | $162 | $300 |
City averages based on Correctionville market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,113 |
| Total Monthly Debt Service | $893 |
| DSCR Ratio | 1.25x |
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 1910
8,712 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51016, Correctionville, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 615 (100%) |
| Owner Occupied HU | 454 (73.8%) |
| Renter Occupied HU | 85 (13.8%) |
| Vacant Housing Units | 76 (12.4%) |
| Median Home Value | $185,465 |
| Average Home Value | $239,372 |
Housing Distribution
Address Breakdown
Residential
405
Single Family
399
Multi-Family
6
Businesses
37
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 1910
8,712 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51016, Correctionville, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 615 (100%) |
| Owner Occupied HU | 454 (73.8%) |
| Renter Occupied HU | 85 (13.8%) |
| Vacant Housing Units | 76 (12.4%) |
| Median Home Value | $185,465 |
| Average Home Value | $239,372 |
Housing Distribution
Address Breakdown
Residential
405
Single Family
399
Multi-Family
6
Businesses
37
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Vanessa Lefler-Larned • Keller Williams Siouxland
Mls Name: Northwest Iowa Regional BOR
Mls ID: #830595