3918 Dorothys LnSpirit 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 3918 Dorothys Ln, Spirit Lake, IA, 51360 offers $2,588/mo rent that, after a $1,762/mo payment, leaves $250/mo cash flow. Total monthly income is $2,588/mo, and annual cash flow is $2,999/yr on $119,353 cash. Return on cash invested measures 22.42% in year one, and rental yield stands at 8.63% at a $360,040 entry. Equity gained on principal adds $2,323/yr while 5% annual appreciation compounds into $99,472 by year five. Five-year ROI records 116.71% and total cumulative return in cash reaches $139,294. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,588/mo property income versus a $1,762/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Townhouse
Built in 2024
0.30 Acres 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: Nick Steffes • Integrity Real Estate
Mls Name: Iowa Great Lakes BOR
Mls Provider:
Mls ID: #240745
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.