520 State St, Farmington, IA, 52626 | 4.59% Rental Yield

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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520 State St, Farmington, IA, 52626 | 4.59% Rental Yield | Ziffy

For Sale

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

Rental property for sale in Farmington at 520 State St, Farmington, IA, 52626 priced at $295,900 converts $1,132/mo rent into after a $1,448/mo obligation. Total monthly income equals $1,132/mo. Return on cash invested prints 10.25% in year one, and rental yield reads 4.59% against a $295,900 entry. Equity gained on principal adds $1,909/yr, while 5% annual appreciation compiles into $81,752 by year five. Five-year ROI reaches 51.48% and total cumulative return in cash sums $50,493. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,132/mo property income covering a $1,448/mo payment, not borrower’s personal income.

Single Family

Built in 1922

1 Acres lot

$N/A/sqft

No HOA

More details about the property

This Unique lovely 2-bedroom, 2-bathroom home with large walk in closets, was once The Historic Farmington Train Depot in Van Buren County, IA. It sits on 1+/- acre. This home was completely renovated, restored and updated in 2017 into a beautiful high standard luxurious home, with the exterior still maintaining the look of the original Depot. There are 2 lofts, one above each bedroom. The Great Room consists of a Living Room, Dining area, a gas fireplace and Kitchen with a 17' ceiling. There are 6 ceiling fans and 5 mini splits for air conditioning throughout the home. Heating consists of gas forced air and partial in floor heating. This home is very energy efficient. It does have a crawl space. There is a 26x30 metal oversize garage, a 10x16 shed and a double carport. This area is large enough to accommodate parking an RV on the property. There is plenty of hunting and fishing in the area. The City allows 3 animals on the property. This Property has been appraised at $360,000.

Neighborhood Data

Neighborhood data shown for ZIP Code: 52626, Farmington, IA area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	553 (100%)
Owner Occupied HU	393 (71.1%)
Renter Occupied HU	86 (15.6%)
Vacant Housing Units	74 (13.4%)
Median Home Value	$149,342
Average Home Value	$184,707