502 S Elm StNew LondonIA52645
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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 New London at 502 S Elm St, New London, IA, 52645 generates $0/mo in rent, after a $903/mo payment. Total monthly income is $0/mo. Return on cash invested sits at -3.6% in year one, and rental yield is 0% on a $184,500 entry. Equity gained on principal adds $1,191/yr, while 5% annual appreciation builds toward $50,974 over five years. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $0/mo property income rather than buyer’s personal income.
Single Family
Built in 1900
10,454 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52645, New London, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,459 (100%) |
| Owner Occupied HU | 1,140 (78.1%) |
| Renter Occupied HU | 249 (17.1%) |
| Vacant Housing Units | 70 ( 4.8%) |
| Median Home Value | $168,033 |
| Average Home Value | $217,375 |
Housing Distribution
Address Breakdown
Residential
1,314
Single Family
1,288
Multi-Family
26
Businesses
69
Nearby investment properties with comparable rents
No similar rental properties found nearby.
Nearby investment properties with comparable prices
Listed by: Leiah Prall • Century 21/Property Profession
Mls Name: NoCoast MLS as distributed by MLS GRID
Mls ID: #6334125