408 23rd St NWCedar RapidsIA52405
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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
Investment property for sale in Cedar Rapids at 408 23rd St NW, Cedar Rapids, IA, 52405 offers a 7.89% rental yield on a $199,000 purchase with $1,309/mo rent. Total monthly income registers $1,309/mo, and a $974/mo payment leaves $17/mo available for distribution. Annual cash flow reaches $199/yr on $65,969 to close, and return on cash invested stands at 20.21% in year one. Equity gained on principal adds $1,284/yr while 5% annual appreciation supports $54,980 over five years. Portfolio math shows five-year ROI at 104.88% and total cumulative return in cash at $69,186. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,309/mo property income against a $974/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1958
6,300 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52405, Cedar Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,239 (100%) |
| Owner Occupied HU | 7,767 (69.1%) |
| Renter Occupied HU | 2,888 (25.7%) |
| Vacant Housing Units | 584 ( 5.2%) |
| Median Home Value | $199,987 |
| Average Home Value | $230,161 |
Housing Distribution
Address Breakdown
Residential
11,162
Single Family
9,355
Multi-Family
1,807
Businesses
256
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