501 2nd St NWIndependenceIA50644
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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 501 2nd St NW, Independence, IA, 50644 generates $1,038/mo in rent and, after a $636/mo payment, leaves $194/mo in cash flow. Total monthly income is $1,038/mo, and annual cash flow is $2,330/yr on $43,062 invested. Return on cash invested sits at 25.32% in year one, and rental yield is 9.59% on a $129,900 entry. Equity gained on principal adds $838/yr, while 5% annual appreciation builds toward $35,889 over five years. Five-year ROI reaches 132.36% and total cumulative return in cash sums $56,995. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,038/mo property income rather than buyer’s personal income.
Single Family
Built in 1940
8,712 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: Kari Penhollow • Berkshire Hathaway Home Services One Realty Centre
Mls Name: Northeast Iowa Regional BOR
Mls ID: #20253577