51 29th Ave SW #24Cedar RapidsIA52404
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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 Cedar Rapids at 51 29th Ave SW #24, Cedar Rapids, IA, 52404 offers a 9.34% rental yield on a $146,500 purchase with $1,140/mo rent. Total monthly income registers $1,140/mo, and a $717/mo payment leaves $189/mo available for distribution. Annual cash flow reaches $2,263/yr on $48,565 to close, and return on cash invested stands at 24.57% in year one. Equity gained on principal adds $945/yr while 5% annual appreciation supports $40,475 over five years. Portfolio math shows five-year ROI at 128.26% and total cumulative return in cash at $62,291. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,140/mo property income against a $717/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1975
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52404, Cedar Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,968 (100%) |
| Owner Occupied HU | 11,682 (55.7%) |
| Renter Occupied HU | 7,536 (35.9%) |
| Vacant Housing Units | 1,750 ( 8.3%) |
| Median Home Value | $201,736 |
| Average Home Value | $240,149 |
Housing Distribution
Address Breakdown
Residential
19,505
Single Family
14,648
Multi-Family
4,857
Businesses
1,391
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Listed by: Cat Brown, Gri, Abr • Move In-Out, Real Estate, Inc
Mls Name: CRAAR, CDRMLS
Mls ID: #2506835