406 E Steele StCorydonIA50060
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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 Corydon at 406 E Steele St, Corydon, IA, 50060 priced at $155,000 converts $1,115/mo rent into $108/mo cash flow after a $759/mo obligation. Total monthly income equals $1,115/mo, and annual cash flow totals $1,296/yr on $51,383 invested. Return on cash invested prints 22.43% in year one, and rental yield reads 8.63% against a $155,000 entry. Equity gained on principal adds $1,000/yr, while 5% annual appreciation compiles into $42,824 by year five. Five-year ROI reaches 116.73% and total cumulative return in cash sums $59,980. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,115/mo property income covering a $759/mo payment, not borrower’s personal income.
Single Family
Built in 1960
0.30 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50060, Corydon, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,223 (100%) |
| Owner Occupied HU | 773 (63.2%) |
| Renter Occupied HU | 271 (22.2%) |
| Vacant Housing Units | 179 (14.6%) |
| Median Home Value | $120,363 |
| Average Home Value | $220,695 |
Housing Distribution
Address Breakdown
Residential
1,081
Single Family
1,020
Multi-Family
61
Businesses
124
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