315 Wolfe Ln NE #BMount VernonIA52314
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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 Mount Vernon at 315 Wolfe Ln NE #B, Mount Vernon, IA, 52314 priced at $420,000 converts $1,020/mo rent into after a $2,056/mo obligation. Total monthly income equals $1,020/mo. Return on cash invested prints 5.19% in year one, and rental yield reads 2.91% against a $420,000 entry. Equity gained on principal adds $2,710/yr, while 5% annual appreciation compiles into $116,038 by year five. Five-year ROI reaches 24.29% and total cumulative return in cash sums $33,823. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,020/mo property income covering a $2,056/mo payment, not borrower’s personal income.
Condo
Built in 2026
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52314, Mount Vernon, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,143 (100%) |
| Owner Occupied HU | 1,617 (75.5%) |
| Renter Occupied HU | 379 (17.7%) |
| Vacant Housing Units | 147 ( 6.9%) |
| Median Home Value | $330,475 |
| Average Home Value | $363,694 |
Housing Distribution
Address Breakdown
Residential
2,012
Single Family
1,944
Multi-Family
68
Businesses
186
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Listed by: Doris Ackerman • KW Advantage
Mls Name: CRAAR, CDRMLS
Mls ID: #2600091