404 3rd Ave SEIndependenceIA50644
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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 Independence at 404 3rd Ave SE, Independence, IA, 50644 priced at $135,000 converts $1,047/mo rent into $170/mo cash flow after a $661/mo obligation. Total monthly income equals $1,047/mo, and annual cash flow totals $2,040/yr on $44,753 invested. Return on cash invested prints 24.47% in year one, and rental yield reads 9.31% against a $135,000 entry. Equity gained on principal adds $871/yr, while 5% annual appreciation compiles into $37,298 by year five. Five-year ROI reaches 127.69% and total cumulative return in cash sums $57,145. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,047/mo property income covering a $661/mo payment, not borrower’s personal income.
Single Family
Built in 1910
5,880 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50644, Independence, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,008 (100%) |
| Owner Occupied HU | 2,849 (71.1%) |
| Renter Occupied HU | 834 (20.8%) |
| Vacant Housing Units | 325 ( 8.1%) |
| Median Home Value | $194,271 |
| Average Home Value | $234,427 |
Housing Distribution
Address Breakdown
Residential
3,855
Single Family
3,588
Multi-Family
267
Businesses
351
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Listed by: Eric Rosenthal • Coldwell Banker Hedges Realty
Mls Name: Northeast Iowa Regional BOR
Mls Provider:
Mls ID: #20251851
Disclaimer: IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. Based on information submitted to the MLS GRID as of 2025-04-29 11:27:32 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. Prices displayed on all Sold listings are the Last Known Listing Price and may not be the actual selling price.