505 8th Ave NEIndependenceIA50644
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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 Independence at 505 8th Ave NE, Independence, IA, 50644 uses $47,736 cash to close to unlock $67/yr annual cash flow and $6/mo monthly cash flow. Total monthly income runs $941/mo, and a $705/mo payment keeps the spread at $6/mo. Purchase price stands at $144,000, and rental yield measures 7.84% with $941/mo rent. Return on cash invested shows 20.05% in year one, and 5% annual appreciation builds toward $39,785 over five years. Five-year ROI reaches 104.04% and total cumulative return in cash records $49,662. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $941/mo property income covering a $705/mo payment rather than investor’s personal income.
Single Family
Built in 1920
10,454 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: Jennifer L Sweeney • Ohl Iowa Realty, Inc
Mls Name: Northeast Iowa Regional BOR
Mls ID: #20255304