503 Elkhorn StMitchellvilleIA50169
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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 Mitchellville at 503 Elkhorn St, Mitchellville, IA, 50169 uses $101,436 cash to close to unlock $7,397/yr annual cash flow and $616/mo monthly cash flow. Total monthly income runs $2,604/mo, and a $1,498/mo payment keeps the spread at $616/mo. Purchase price stands at $305,990, and rental yield measures 10.21% with $2,604/mo rent. Return on cash invested shows 27.2% in year one, and 5% annual appreciation builds toward $84,539 over five years. Five-year ROI reaches 142.36% and total cumulative return in cash records $144,404. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,604/mo property income covering a $1,498/mo payment rather than investor’s personal income.
Single Family
Built in 2024
7,100 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50169, Mitchellville, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,159 (100%) |
| Owner Occupied HU | 887 (76.5%) |
| Renter Occupied HU | 203 (17.5%) |
| Vacant Housing Units | 69 ( 6.0%) |
| Median Home Value | $309,928 |
| Average Home Value | $321,812 |
Housing Distribution
Address Breakdown
Residential
1,004
Single Family
962
Multi-Family
42
Businesses
34
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Listed by: Kathryn Greer • DRH Realty of Iowa, LLC
Mls Name: DMMLS
Mls Provider:
Mls ID: #694903
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.