508 3rd AveAltonIA51003
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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 Alton at 508 3rd Ave, Alton, IA, 51003 priced at $339,000 converts $2,084/mo rent into after a $1,659/mo obligation. Total monthly income equals $2,084/mo. Return on cash invested prints 18.66% in year one, and rental yield reads 7.38% against a $339,000 entry. Equity gained on principal adds $2,188/yr, while 5% annual appreciation compiles into $93,659 by year five. Five-year ROI reaches 96.52% and total cumulative return in cash sums $108,472. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,084/mo property income covering a $1,659/mo payment, not borrower’s personal income.
Single Family
Built in 1916
0.54 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51003, Alton, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 686 (100%) |
| Owner Occupied HU | 505 (73.6%) |
| Renter Occupied HU | 119 (17.3%) |
| Vacant Housing Units | 62 ( 9.0%) |
| Median Home Value | $252,500 |
| Average Home Value | $305,535 |
Housing Distribution
Address Breakdown
Residential
546
Single Family
546
Multi-Family
0
Businesses
55
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