3281 Lucas AveSmithlandIA51056
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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 Smithland at 3281 Lucas Ave, Smithland, IA, 51056 offers a 6.74% rental yield on a $268,500 purchase with $1,507/mo rent. 72% in year one. Equity gained on principal adds $1,733/yr while 5% annual appreciation supports $74,182 over five years. Portfolio math shows five-year ROI at 86.16% and total cumulative return in cash at $76,690. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,507/mo property income against a $1,314/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1910
2.52 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51056, Smithland, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 199 (100%) |
| Owner Occupied HU | 130 (65.3%) |
| Renter Occupied HU | 29 (14.6%) |
| Vacant Housing Units | 40 (20.1%) |
| Median Home Value | $206,250 |
| Average Home Value | $204,962 |
Housing Distribution
Address Breakdown
Residential
169
Single Family
169
Multi-Family
0
Businesses
9
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