513 2nd St SWCedar 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 513 2nd St SW, Cedar Rapids, IA, 52404 uses $64,394 cash to close to unlock $3,038/yr annual cash flow and $253/mo monthly cash flow. Total monthly income runs $1,515/mo, and a $951/mo payment keeps the spread at $253/mo. Purchase price stands at $194,250, and rental yield measures 9.36% with $1,515/mo rent. Return on cash invested shows 24.63% in year one, and 5% annual appreciation builds toward $53,668 over five years. Five-year ROI reaches 128.61% and total cumulative return in cash records $82,815. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,515/mo property income covering a $951/mo payment rather than investor’s personal income.
Single Family
Built in 1890
3,920 sqft 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: Travis Burke • Keller Williams Legacy Group
Mls Name: CRAAR, CDRMLS
Mls ID: #2507330