509 6th StCorrectionvilleIA51016
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowSolid fundamentals define the investment case at 509 6th St, Correctionville, IA, 51016 in Correctionville: $1,313/mo in rent, $462/mo in net income, 12.03% gross yield, 2.23 DSCR, all at $131,000. Ziffy Mortgage's DSCR mortgage qualifies using the property's income alone, clearing approval without U.S. residency or credit. Five-year equity from $36,193 in appreciation and $1,207/yr in principal paydown projects total cumulative return of $79,641.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 12% | 5.0% |
| Monthly Cash Flow | $462 | $300 |
City averages based on Correctionville market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,313 |
| Total Monthly Debt Service | $799 |
| DSCR Ratio | 1.64x |
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.
Single Family
Built in 1910
10,018 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51016, Correctionville, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 615 (100%) |
| Owner Occupied HU | 454 (73.8%) |
| Renter Occupied HU | 85 (13.8%) |
| Vacant Housing Units | 76 (12.4%) |
| Median Home Value | $185,465 |
| Average Home Value | $239,372 |
Housing Distribution
Address Breakdown
Residential
405
Single Family
399
Multi-Family
6
Businesses
37
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 1910
10,018 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51016, Correctionville, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 615 (100%) |
| Owner Occupied HU | 454 (73.8%) |
| Renter Occupied HU | 85 (13.8%) |
| Vacant Housing Units | 76 (12.4%) |
| Median Home Value | $185,465 |
| Average Home Value | $239,372 |
Housing Distribution
Address Breakdown
Residential
405
Single Family
399
Multi-Family
6
Businesses
37
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Rachel Raak-Law • United Real Estate Solutions
Mls Name: Northwest Iowa Regional BOR
Mls Provider:
Mls ID: #828964
Disclaimer: Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing information is deemed reliable, but not guaranteed.