341 Cormorant DrNorwalkIA50211
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeSolid fundamentals define the investment case at 341 Cormorant Dr, Norwalk, IA, 50211 in Norwalk: $2,700/mo in rent, $313/mo in net income, 8.88% gross yield, 1.65 DSCR, all at $364,990. Ziffy Mortgage's DSCR mortgage qualifies using the property's income alone, clearing approval without U.S. residency or credit. Five-year equity from $100,840 in appreciation and $3,362/yr in principal paydown projects total cumulative return of $159,141.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.9% | 6.1% |
| Monthly Cash Flow | $313 | $1,450 |
City averages based on Norwalk market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,700 |
| Total Monthly Debt Service | $2,242 |
| DSCR Ratio | 1.20x |
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.
Single Family
Built in 2025
0.28 Acres lot
$N/A/sqft
$200 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50211, Norwalk, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,447 (100%) |
| Owner Occupied HU | 5,103 (79.2%) |
| Renter Occupied HU | 1,010 (15.7%) |
| Vacant Housing Units | 334 ( 5.2%) |
| Median Home Value | $312,678 |
| Average Home Value | $345,686 |
Housing Distribution
Address Breakdown
Residential
6,803
Single Family
6,186
Multi-Family
617
Businesses
254
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
Single Family
Built in 2025
0.28 Acres lot
$N/A/sqft
$200 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50211, Norwalk, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,447 (100%) |
| Owner Occupied HU | 5,103 (79.2%) |
| Renter Occupied HU | 1,010 (15.7%) |
| Vacant Housing Units | 334 ( 5.2%) |
| Median Home Value | $312,678 |
| Average Home Value | $345,686 |
Housing Distribution
Address Breakdown
Residential
6,803
Single Family
6,186
Multi-Family
617
Businesses
254
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Kathryn Greer • DRH Realty of Iowa, LLC
Mls Name: DMMLS
Mls Provider:
Mls ID: #727117
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.