3507 E Ave Nw #FCedar RapidsIA52405
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeHigh DSCR is a competitive advantage at closing. 3507 E Ave Nw #F, Cedar Rapids, IA, 52405 in Cedar Rapids achieves 1.68, rent of $860/mo covers the $513/mo payment 1.5x over at $114,000. Rental yield 9.05%. That makes it both an efficient operational hold and a straightforward underwrite for Ziffy Mortgage's DSCR program. No domestic credit history or income documentation required. Appreciation at 5%/yr adds $31,496 over five years, with $1,050/yr in principal reduction bringing total projected return to $51,067.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.1% | 7.2% |
| Monthly Cash Flow | $(70) | $450 |
City averages based on Cedar Rapids market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $860 |
| Total Monthly Debt Service | $695 |
| DSCR Ratio | 1.24x |
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 1999
2.27 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52405, Cedar Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,239 (100%) |
| Owner Occupied HU | 7,767 (69.1%) |
| Renter Occupied HU | 2,888 (25.7%) |
| Vacant Housing Units | 584 ( 5.2%) |
| Median Home Value | $199,987 |
| Average Home Value | $230,161 |
Housing Distribution
Address Breakdown
Residential
11,162
Single Family
9,355
Multi-Family
1,807
Businesses
256
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 1999
2.27 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52405, Cedar Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,239 (100%) |
| Owner Occupied HU | 7,767 (69.1%) |
| Renter Occupied HU | 2,888 (25.7%) |
| Vacant Housing Units | 584 ( 5.2%) |
| Median Home Value | $199,987 |
| Average Home Value | $230,161 |
Housing Distribution
Address Breakdown
Residential
11,162
Single Family
9,355
Multi-Family
1,807
Businesses
256
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Chad Gloede • RE/MAX CONCEPTS
Mls Name: CRAAR, CDRMLS
Mls ID: #2601169