508 W 11th StSpencerIA51301
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayInvestors who prioritise long-run asset value over immediate income should consider 508 W 11th St, Spencer, IA, 51301 in Spencer. Rental yield 5.74%. At $224,500 with 5.74% gross yield, current distributions are modest, but the 5% appreciation rate projects $62,025 in new equity by year five, complemented by $2,068/yr in principal paydown. Ziffy Mortgage's DSCR loan (1.06) allows non-U.S. residents to acquire without W-2s or domestic credit. Total projected five-year cumulative return: $60,748.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 5.7% | 7.0% |
| Monthly Cash Flow | $(384) | $300 |
City averages based on Spencer market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,074 |
| Total Monthly Debt Service | $1,369 |
| DSCR Ratio | 0.78x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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.
Single Family
Built in 1948
10,018 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51301, Spencer, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,257 (100%) |
| Owner Occupied HU | 3,762 (60.1%) |
| Renter Occupied HU | 1,788 (28.6%) |
| Vacant Housing Units | 707 (11.3%) |
| Median Home Value | $196,406 |
| Average Home Value | $264,591 |
Housing Distribution
Address Breakdown
Residential
5,949
Single Family
4,996
Multi-Family
953
Businesses
663
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
Single Family
Built in 1948
10,018 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51301, Spencer, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,257 (100%) |
| Owner Occupied HU | 3,762 (60.1%) |
| Renter Occupied HU | 1,788 (28.6%) |
| Vacant Housing Units | 707 (11.3%) |
| Median Home Value | $196,406 |
| Average Home Value | $264,591 |
Housing Distribution
Address Breakdown
Residential
5,949
Single Family
4,996
Multi-Family
953
Businesses
663
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jimy Mac Lenz • Hinn Real Estate
Mls Name: Iowa Great Lakes BOR
Mls Provider:
Mls ID: #250327
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.