505 E 1st Ave #16Rock RapidsIA51246
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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 Rock Rapids at 505 E 1st Ave #16, Rock Rapids, IA, 51246 offers a 9.3% rental yield on a $120,000 purchase with $930/mo rent. Total monthly income registers $930/mo, and a $587/mo payment leaves $151/mo available for distribution. Annual cash flow reaches $1,812/yr on $39,780 to close, and return on cash invested stands at 24.46% in year one. Equity gained on principal adds $774/yr while 5% annual appreciation supports $33,154 over five years. Portfolio math shows five-year ROI at 127.65% and total cumulative return in cash at $50,779. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $930/mo property income against a $587/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 2013
0.34 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51246, Rock Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,621 (100%) |
| Owner Occupied HU | 1,189 (73.3%) |
| Renter Occupied HU | 297 (18.3%) |
| Vacant Housing Units | 135 ( 8.3%) |
| Median Home Value | $247,222 |
| Average Home Value | $378,673 |
Housing Distribution
Address Breakdown
Residential
1,506
Single Family
1,422
Multi-Family
84
Businesses
166
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Listed by: Keith A Elbers • Real Estate Retrievers
Mls Name: Realtor Association of the Sioux Empire
Mls ID: #22506195