514 16th St NE, Cedar Rapids, IA, 52402 | $626/mo Cash Flow

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Monthly Cash Flow: 1 - 3k+

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514 16th St NE, Cedar Rapids, IA, 52402 | $626/mo Cash Flow | Ziffy

For Sale

Currently Rented

Fix & Flip

Rental Income

+ 1 more

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Investment property for sale in Cedar Rapids at 514 16th St NE, Cedar Rapids, IA, 52402 listed at $140,000 pairs $1,535/mo rent with a $685/mo payment to leave $626/mo cash flow. Total monthly income runs $1,535/mo, and annual cash flow reaches $7,512/yr on $46,410 cash to close. Return on cash invested measures 36.1% in year one, and rental yield registers 13.16% at a $140,000 basis. Equity gained on principal adds $903/yr, and annual property appreciation at 5% supports $38,679 by year five. Five-year ROI tracks 190.02% and total cumulative return in cash totals $88,186. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,535/mo property income relative to a $685/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).

Multi Family

Built in 1910

2,657 sqft lot

$N/A/sqft

No HOA

More details about the property

This duplex offers excellent flexibility for a new owner with existing leases in place. One unit features a newly signed one-year lease at $1,575 per month, while the second unitoccupied by a long-term tenant of over 10 yearscurrently rents for $525 per month. The lower-rent unit presents a strong value-add opportunity and could be converted into a furnished rental for traveling nurses or data-center professionals to significantly increase cash flow. The property sits high on the lot, providing excellent water drainage away from the foundation. The owner currently covers utilities; however, an additional value-add opportunity exists by separating the electric meters, finishing the attic, or making the efficiency unit a 1 or 2 bed unit down the road. Would give a discount price if sold with 1630 1st Ave ne or 1119 3rd st sw.

Neighborhood Data

Neighborhood data shown for ZIP Code: 52402, Cedar Rapids, IA area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	19,282 (100%)
Owner Occupied HU	11,711 (60.7%)
Renter Occupied HU	6,275 (32.5%)
Vacant Housing Units	1,296 ( 6.7%)
Median Home Value	$208,064
Average Home Value	$237,802