510 Lake StSpirit LakeIA51360
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
Investment Highlights
Rental property for sale in Spirit Lake at 510 Lake St, Spirit Lake, IA, 51360 priced at $125,000 pairs $1,770/mo rent with $958/mo cash flow after a $612/mo payment. Total monthly income equals $1,770/mo, and annual cash flow comes to $11,496/yr on $41,438 invested. Return on cash invested is 47.65% in year one, and rental yield stands at 16.99% on a $125,000 basis. Equity gained on principal adds $807/yr, and 5% annual appreciation accumulates to $34,535 by year five. Five-year ROI measures 251.99% and total cumulative return in cash reaches $104,417. For financing, Ziffy Mortgage’s DSCR program evaluates $1,770/mo property income against a $612/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1930
0.26 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51360, Spirit Lake, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,264 (100%) |
| Owner Occupied HU | 3,158 (43.5%) |
| Renter Occupied HU | 885 (12.2%) |
| Vacant Housing Units | 3,221 (44.3%) |
| Median Home Value | $353,365 |
| Average Home Value | $492,400 |
Housing Distribution
Address Breakdown
Residential
4,782
Single Family
4,272
Multi-Family
510
Businesses
489
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Listed by: Charlie Leissler • RE/MAX Lakes Realty
Mls Name: Iowa Great Lakes BOR
Mls Provider:
Mls ID: #241057