507 N 3rd StClear LakeIA50428
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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 Clear Lake at 507 N 3rd St, Clear Lake, IA, 50428 listed at $328,000 pairs $1,865/mo rent with a $1,605/mo payment. Total monthly income runs $1,865/mo. Return on cash invested measures 16.99% in year one, and rental yield registers 6.82% at a $328,000 basis. Equity gained on principal adds $2,117/yr, and annual property appreciation at 5% supports $90,620 by year five. Five-year ROI tracks 87.6% and total cumulative return in cash totals $95,251. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,865/mo property income relative to a $1,605/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1920
5,227 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50428, Clear Lake, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,980 (100%) |
| Owner Occupied HU | 3,140 (52.5%) |
| Renter Occupied HU | 1,090 (18.2%) |
| Vacant Housing Units | 1,750 (29.3%) |
| Median Home Value | $330,643 |
| Average Home Value | $446,903 |
Housing Distribution
Address Breakdown
Residential
4,998
Single Family
4,426
Multi-Family
572
Businesses
427
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Listed by: JASON KIRKPATRICK • Century 21 Preferred Clear Lake
Mls Name: Greater Mason BOR
Mls Provider:
Mls ID: #250494
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