515 6th Ave NWIndependenceIA50644
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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 Independence at 515 6th Ave NW, Independence, IA, 50644 listed at $195,000 pairs $1,495/mo rent with a $954/mo payment to leave $229/mo cash flow. Total monthly income runs $1,495/mo, and annual cash flow reaches $2,748/yr on $64,643 cash to close. Return on cash invested measures 24.16% in year one, and rental yield registers 9.2% at a $195,000 basis. Equity gained on principal adds $1,258/yr, and annual property appreciation at 5% supports $53,875 by year five. Five-year ROI tracks 126.03% and total cumulative return in cash totals $81,466. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,495/mo property income relative to a $954/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1870
8,712 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50644, Independence, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,008 (100%) |
| Owner Occupied HU | 2,849 (71.1%) |
| Renter Occupied HU | 834 (20.8%) |
| Vacant Housing Units | 325 ( 8.1%) |
| Median Home Value | $194,271 |
| Average Home Value | $234,427 |
Housing Distribution
Address Breakdown
Residential
3,855
Single Family
3,588
Multi-Family
267
Businesses
351
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Listed by: Kristina Smith • RE/MAX Concepts - Waverly
Mls Name: Northeast Iowa Regional BOR
Mls ID: #20255244