3209 S 16th Ave UNIT 203EldridgeIA52748
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors targeting immediate dollar income will find 3209 S 16th Ave UNIT 203, Eldridge, IA, 52748 in Eldridge hard to pass up. The 13.39% gross yield on a $139,900 purchase results in $1,561/mo in rent and $503/mo in net cash, well above the spread required for Ziffy Mortgage's DSCR qualification (2.48). Annual cash flow of $6,031, five-year appreciation of $38,652, and $1,288/yr in equity build-up combine for a projected total cumulative return of $86,272.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 13.4% | 6.0% |
| Monthly Cash Flow | $503 | $300 |
City averages based on Eldridge market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,561 |
| Total Monthly Debt Service | $1,003 |
| DSCR Ratio | 1.56x |
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.
Condo
Built in 2006
N/A lot
$N/A/sqft
$150 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52748, Eldridge, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,159 (100%) |
| Owner Occupied HU | 3,016 (72.5%) |
| Renter Occupied HU | 904 (21.7%) |
| Vacant Housing Units | 239 ( 5.7%) |
| Median Home Value | $375,552 |
| Average Home Value | $398,076 |
Housing Distribution
Address Breakdown
Residential
4,062
Single Family
3,554
Multi-Family
508
Businesses
307
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
Condo
Built in 2006
N/A lot
$N/A/sqft
$150 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52748, Eldridge, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,159 (100%) |
| Owner Occupied HU | 3,016 (72.5%) |
| Renter Occupied HU | 904 (21.7%) |
| Vacant Housing Units | 239 ( 5.7%) |
| Median Home Value | $375,552 |
| Average Home Value | $398,076 |
Housing Distribution
Address Breakdown
Residential
4,062
Single Family
3,554
Multi-Family
508
Businesses
307
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Brittany Murphy • Real Broker, LLC - Bettendorf
Mls Name: RMLS Alliance
Mls Provider:
Mls ID: #QC4265304
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.