420 E Franklin St APT 104EldridgeIA52748
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe 9.25% yield at 420 E Franklin St APT 104, Eldridge, IA, 52748 in Eldridge is solid, but the $1,088/mo payment compresses net cash flow to $134/mo at $242,000. This is a tight-spread property, income covers debt, with little cushion. For investors who can optimise occupancy, the upside is real: 5% annual appreciation adds $66,860 by year five, and $2,229/yr in loan paydown builds equity. Ziffy Mortgage qualifies this via DSCR (1.72) without U.S. income documentation. Total projected return: $111,038.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.3% | 6.0% |
| Monthly Cash Flow | $134 | $300 |
City averages based on Eldridge market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,866 |
| Total Monthly Debt Service | $1,475 |
| DSCR Ratio | 1.26x |
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 2016
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52748, Eldridge, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,159 (100%) |
| Owner Occupied HU | 3,016 (72.5%) |
| Renter Occupied HU | 904 (21.7%) |
| Vacant Housing Units | 239 ( 5.7%) |
| Median Home Value | $375,552 |
| Average Home Value | $398,076 |
Housing Distribution
Address Breakdown
Residential
4,062
Single Family
3,554
Multi-Family
508
Businesses
307
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 2016
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52748, Eldridge, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,159 (100%) |
| Owner Occupied HU | 3,016 (72.5%) |
| Renter Occupied HU | 904 (21.7%) |
| Vacant Housing Units | 239 ( 5.7%) |
| Median Home Value | $375,552 |
| Average Home Value | $398,076 |
Housing Distribution
Address Breakdown
Residential
4,062
Single Family
3,554
Multi-Family
508
Businesses
307
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices