356 16th St SECedar RapidsIA52403
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeInvestors who treat current yield as secondary to long-run equity growth will find 356 16th St SE, Cedar Rapids, IA, 52403 in Cedar Rapids worth modelling. At $110,000 with a 9.61% gross yield, the $881/mo rent leaves $167/mo after the $495/mo payment, sufficient to cover costs, modest in distribution. Ziffy Mortgage's 1.78 DSCR loan can finance the acquisition without personal income documentation. Appreciation of 5%/yr is projected to add $30,391 by year five; $1,013/yr in principal reduction adds further equity. Total projected return: $52,561.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.6% | 7.2% |
| Monthly Cash Flow | $167 | $450 |
City averages based on Cedar Rapids market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $881 |
| Total Monthly Debt Service | $671 |
| DSCR Ratio | 1.31x |
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 1910
2,395 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52403, Cedar Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,261 (100%) |
| Owner Occupied HU | 7,355 (65.3%) |
| Renter Occupied HU | 2,954 (26.2%) |
| Vacant Housing Units | 952 ( 8.5%) |
| Median Home Value | $240,295 |
| Average Home Value | $311,384 |
Housing Distribution
Address Breakdown
Residential
10,390
Single Family
8,523
Multi-Family
1,867
Businesses
288
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 1910
2,395 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52403, Cedar Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,261 (100%) |
| Owner Occupied HU | 7,355 (65.3%) |
| Renter Occupied HU | 2,954 (26.2%) |
| Vacant Housing Units | 952 ( 8.5%) |
| Median Home Value | $240,295 |
| Average Home Value | $311,384 |
Housing Distribution
Address Breakdown
Residential
10,390
Single Family
8,523
Multi-Family
1,867
Businesses
288
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Lena Gilbert • SKOGMAN REALTY
Mls Name: CRAAR, CDRMLS
Mls ID: #2509205