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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Rental property for sale in Cedar Rapids at 3503 Banar Dr SW UNIT C, Cedar Rapids, IA, 52404 offers $1,483/mo rent that, after a $1,003/mo payment. Total monthly income is $1,483/mo. Return on cash invested measures 19.82% in year one, and rental yield stands at 8.68% at a $205,000 entry. Equity gained on principal adds $1,323/yr while 5% annual appreciation compounds into $56,638 by year five. Five-year ROI records 103.77% and total cumulative return in cash reaches $70,518. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,483/mo property income versus a $1,003/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Condo
Built in 2006
N/A lot
$N/A/sqft
$1,884 annually HOA
Neighborhood data shown for ZIP Code: 52404, Cedar Rapids, IA area.
| 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 |
Residential
19,505
Single Family
14,648
Multi-Family
4,857
Businesses
1,391
Date | Event | Price |
|---|---|---|
| 2025-06-23 | Sold | $205,000 |
| 2025-05-13 | Pending sale | $205,000 |
| 2025-05-12 | Listed for sale | $205,000 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-10-23 | $2660.00 | -17.49% | $180,900 | 7.81% |
| 2023-10-23 | $3224.00 | 10.26% | $167,800 | 3.77% |
| 2022-10-23 | $2924.00 | -6.76% | $161,700 | 7.73% |
Listed by: Debra Callahan • RE/MAX Concepts
Mls Name: Iowa City Area AOR
Mls Provider:
Mls ID: #202503152
Disclaimer: IDX information is provided exclusively for consumers personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing information is deemed reliable, but not guaranteed accurate by the MLS.
