400 E Locust St UNIT 204Des MoinesIA50309
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowHigh DSCR is a competitive advantage at closing. 400 E Locust St UNIT 204, Des Moines, IA, 50309 in Des Moines achieves 1.93, rent of $1,304/mo covers the $674/mo payment 1.5x over at $149,900. Rental yield 10.44%. 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 $41,415 over five years, with $1,381/yr in principal reduction bringing total projected return to $50,579.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.4% | 6.5% |
| Monthly Cash Flow | $(132) | $450 |
City averages based on Des Moines market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,304 |
| Total Monthly Debt Service | $1,376 |
| DSCR Ratio | 0.95x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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 2005
N/A lot
$N/A/sqft
$427 monthly HOA
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 2005
N/A lot
$N/A/sqft
$427 monthly HOA
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Ernest Huffey • RE/MAX Revolution
Mls Name: DMMLS
Mls Provider:
Mls ID: #714734
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.