323 Norwick Rd SW, Cedar Rapids, IA, 52404 | 7.52% Rental Yield

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323 Norwick Rd SW, Cedar Rapids, IA, 52404 | 7.52% Rental Yield | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Investment property for sale in Cedar Rapids at 323 Norwick Rd SW, Cedar Rapids, IA, 52404 with 5% annual appreciation on a $224,777 basis while $1,408/mo rent supports operations. 08% in year one. Equity gained on principal adds $1,450/yr, and five-year appreciation sums $62,102 alongside rental yield of 7.52%. Five-year ROI measures 98.82% and total cumulative return in cash totals $73,631. Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $1,408/mo property income versus a $1,100/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.

Single Family

Built in 1970

7,405 sqft lot

$N/A/sqft

No HOA

More details about the property

Welcome to 323 Norwick Rd SW a beautifully cared-for home in a quiet, convenient southwest Cedar Rapids neighborhood. This 4-bedroom, 1.5-bath residence offers 1,073 square feet on the main level plus another 743 finished square feet in the lower level, giving you plenty of comfortable living space. Youll love the inviting living room featuring a built-in gas fireplace and the warm, updated finishes throughout. The living room and one bedroom were redone after the 2020 derecho. Other major updates include a new roof, siding, and several windows, plus a brand-new furnace and air conditioning system installed in 2024 giving you peace of mind for years to come. Enjoy main-floor laundry, an oversized garage with space for a workbench, and both front and back decks perfect for relaxing or entertaining. The private fenced backyard includes a handy storage shed and plenty of room to play or garden. All appliances stay, making this home truly move-in ready. Close to schools, parks, and shopping, this home combines comfort, convenience, and value. Dont miss your chance to make this charming home your own!

Neighborhood Data

Neighborhood data shown for ZIP Code: 52404, Cedar Rapids, IA area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	20,968 (100%)
Owner Occupied HU	11,682 (55.7%)
Renter Occupied HU	7,536 (35.9%)
Vacant Housing Units	1,750 ( 8.3%)
Median Home Value	$201,736
Average Home Value	$240,149