516 NE 13th StGrimesIA50111
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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 Grimes at 516 NE 13th St, Grimes, IA, 50111 offers a 9.69% rental yield on a $373,900 purchase with $3,019/mo rent. Total monthly income registers $3,019/mo, and a $1,830/mo payment leaves $451/mo available for distribution. Annual cash flow reaches $5,418/yr on $123,948 to close, and return on cash invested stands at 24.28% in year one. Equity gained on principal adds $2,413/yr while 5% annual appreciation supports $103,302 over five years. Portfolio math shows five-year ROI at 127.18% and total cumulative return in cash at $157,637. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,019/mo property income against a $1,830/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 2003
0.26 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50111, Grimes, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,438 (100%) |
| Owner Occupied HU | 5,041 (67.8%) |
| Renter Occupied HU | 1,944 (26.1%) |
| Vacant Housing Units | 453 ( 6.1%) |
| Median Home Value | $352,789 |
| Average Home Value | $397,644 |
Housing Distribution
Address Breakdown
Residential
7,220
Single Family
6,963
Multi-Family
257
Businesses
595
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Listed by: Leeann Bluske • ConsumerEquity LLC
Mls Name: DMMLS
Mls Provider:
Mls ID: #704532
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.