3515 E Ave Nw #D, Cedar Rapids, IA, 52405 | $186/mo Cash Flow

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Monthly Cash Flow: 1 - 3k+

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3515 E Ave Nw #D, Cedar Rapids, IA, 52405 | $186/mo Cash Flow | 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

Rental property for sale in Cedar Rapids at 3515 E Ave Nw #D, Cedar Rapids, IA, 52405 generates $965/mo in rent and, after a $587/mo payment, leaves $186/mo in cash flow. Total monthly income is $965/mo, and annual cash flow is $2,232/yr on $39,780 invested. Return on cash invested sits at 25.52% in year one, and rental yield is 9.65% on a $120,000 entry. Equity gained on principal adds $774/yr, while 5% annual appreciation builds toward $33,154 over five years. Five-year ROI reaches 133.32% and total cumulative return in cash sums $53,035. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $965/mo property income rather than buyer’s personal income.

Condo

Built in 1999

N/A lot

$N/A/sqft

No HOA

More details about the property

This beautifully updated 2-bedroom, 2-bath condo is the perfect mix of cozy and contemporary. Enjoy an open-concept living space with sleek vinyl plank flooring, fresh paint, and a calming green accent wall that sets the tone for relaxed living. The stylish kitchen features navy cabinets, updated countertops, and a passthrough for easy entertaining. The spacious living room opens to a private deck through large sliding glass doorsperfect for sipping morning coffee or unwinding at sunset. With in-unit laundry, a full suite of appliances, and smart layout that includes a versatile bonus space, this home checks all the boxes. Tucked in a quiet, pet-friendly community with low HOA dues, detached garage, and nearby green space, this condo is move-in ready and just minutes from parks, schools, shopping, and more. Whether you're a first-time buyer, downsizer, or investor this is one to see!

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