507 2nd Ave NEIndependenceIA50644
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Nearby investment properties with comparable prices
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 Independence at 507 2nd Ave NE, Independence, IA, 50644 priced at $189,900 pairs $1,636/mo rent with $403/mo cash flow after a $929/mo payment. Total monthly income equals $1,636/mo, and annual cash flow comes to $4,838/yr on $62,952 invested. Return on cash invested is 27.59% in year one, and rental yield stands at 10.34% on a $189,900 basis. Equity gained on principal adds $1,225/yr, and 5% annual appreciation accumulates to $52,466 by year five. Five-year ROI measures 144.52% and total cumulative return in cash reaches $90,977. For financing, Ziffy Mortgage’s DSCR program evaluates $1,636/mo property income against a $929/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1896
0.26 Acres 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: Heather Federspiel • Wapsie Realty LLC
Mls Name: Northeast Iowa Regional BOR
Mls ID: #20255870