3602 Keokuk AveSpirit LakeIA51360
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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
Investment Highlights
Rental property for sale in Spirit Lake at 3602 Keokuk Ave, Spirit Lake, IA, 51360 generates $1,380/mo in rent, after a $2,472/mo payment. Total monthly income is $1,380/mo. Return on cash invested sits at 6.34% in year one, and rental yield is 3.28% on a $505,000 entry. Equity gained on principal adds $3,259/yr, while 5% annual appreciation builds toward $139,522 over five years. Five-year ROI reaches 30.42% and total cumulative return in cash sums $50,550. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,380/mo property income rather than buyer’s personal income.
Single Family
Built in 2014
7,840 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51360, Spirit Lake, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,264 (100%) |
| Owner Occupied HU | 3,158 (43.5%) |
| Renter Occupied HU | 885 (12.2%) |
| Vacant Housing Units | 3,221 (44.3%) |
| Median Home Value | $353,365 |
| Average Home Value | $492,400 |
Housing Distribution
Address Breakdown
Residential
4,782
Single Family
4,272
Multi-Family
510
Businesses
489
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Listed by: Abby Phillips • Anchor Realty Group
Mls Name: Iowa Great Lakes BOR
Mls ID: #251383