400 E Locust St UNIT 305Des MoinesIA50309
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowDay-one income is the story at 400 E Locust St UNIT 305, Des Moines, IA, 50309 in Des Moines. Priced at $230,000, it generates $2,383/mo in gross rent and $889/mo in net monthly cash flow, a 12.43% yield that comfortably supports the 2.30 DSCR needed for Ziffy Mortgage's no-W2 DSCR mortgage. Projected annual cash flow: $10,674. Five-year appreciation: $63,545. Equity from principal paydown: $2,118/yr. Total projected cumulative return: $144,754.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 12.4% | 6.5% |
| Monthly Cash Flow | $889 | $450 |
City averages based on Des Moines market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,383 |
| Total Monthly Debt Service | $1,402 |
| DSCR Ratio | 1.70x |
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.
Condo
Built in 2005
N/A lot
$N/A/sqft
No 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
No HOA
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Kelsey Weltzin • Keller Williams Ankeny Metro
Mls Name: DMMLS
Mls ID: #723989