507 E Locust St UNIT 308Des MoinesIA50309
INVESTMENT ANALYSIS
Investment Verdict
Solid Income507 E Locust St UNIT 308, Des Moines, IA, 50309 in Des Moines carries a 1.78 coverage ratio, rent of $1,354/mo is 1.78 times the $762/mo payment. Rental yield 8.78%. That margin gives both the investor and Ziffy Mortgage's DSCR underwriting a comfortable buffer at a $169,500 acquisition price. No U.S. credit or income documentation required. Five-year appreciation adds $46,830; total projected cumulative return: $61,779.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.8% | 6.5% |
| Monthly Cash Flow | $(145) | $450 |
City averages based on Des Moines market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,354 |
| Total Monthly Debt Service | $1,351 |
| DSCR Ratio | 1.00x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1900
N/A lot
$N/A/sqft
$252 monthly HOA
Nearby investment properties with comparable rents
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
Condo
Built in 1900
N/A lot
$N/A/sqft
$252 monthly HOA
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Steve Stych • RE/MAX Concepts
Mls Name: DMMLS
Mls Provider:
Mls ID: #720447
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.