506 S 15th AveWashingtonIA52353
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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 Washington at 506 S 15th Ave, Washington, IA, 52353 generates $2,392/mo in rent and, after a $1,561/mo payment, leaves $321/mo in cash flow. Total monthly income is $2,392/mo, and annual cash flow is $3,847/yr on $105,749 invested. Return on cash invested sits at 23.55% in year one, and rental yield is 9% on a $319,000 entry. Equity gained on principal adds $2,058/yr, while 5% annual appreciation builds toward $88,134 over five years. Five-year ROI reaches 122.76% and total cumulative return in cash sums $129,817. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,392/mo property income rather than buyer’s personal income.
Single Family
Built in 2025
0.28 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52353, Washington, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,106 (100%) |
| Owner Occupied HU | 2,697 (65.7%) |
| Renter Occupied HU | 1,115 (27.2%) |
| Vacant Housing Units | 294 ( 7.2%) |
| Median Home Value | $173,592 |
| Average Home Value | $231,948 |
Housing Distribution
Address Breakdown
Residential
3,946
Single Family
3,655
Multi-Family
291
Businesses
429
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Listed by: Connie Larsen • RE/MAX Affiliates
Mls Name: Iowa City Area AOR
Mls ID: #202600604