313 7th StCorrectionvilleIA51016
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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 Correctionville at 313 7th St, Correctionville, IA, 51016 uses $45,167 cash to close to unlock $2,316/yr annual cash flow and $193/mo monthly cash flow. Total monthly income runs $1,078/mo, and a $667/mo payment keeps the spread at $193/mo. Purchase price stands at $136,250, and rental yield measures 9.49% with $1,078/mo rent. Return on cash invested shows 25.04% in year one, and 5% annual appreciation builds toward $37,643 over five years. Five-year ROI reaches 130.74% and total cumulative return in cash records $59,049. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,078/mo property income covering a $667/mo payment rather than investor’s personal income.
Single Family
Built in 1993
0.53 Acres 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
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Listed by: Rachel Raak-Law • United Real Estate Solutions
Mls Name: Northwest Iowa Regional BOR
Mls Provider:
Mls ID: #830276
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. Listing information is deemed reliable, but not guaranteed.