602 2nd St SE #2Orange CityIA51041
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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 Orange City at 602 2nd St SE #2, Orange City, IA, 51041 listed at $185,000 pairs $1,523/mo rent with a $905/mo payment to leave $122/mo cash flow. Total monthly income runs $1,523/mo, and annual cash flow reaches $1,464/yr on $61,328 cash to close. Return on cash invested measures 22.3% in year one, and rental yield registers 9.88% at a $185,000 basis. Equity gained on principal adds $1,194/yr, and annual property appreciation at 5% supports $51,112 by year five. Five-year ROI tracks 117.45% and total cumulative return in cash totals $72,027. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,523/mo property income relative to a $905/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 1979
1 Acres lot
$N/A/sqft
$200 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51041, Orange City, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,694 (100%) |
| Owner Occupied HU | 1,956 (72.6%) |
| Renter Occupied HU | 585 (21.7%) |
| Vacant Housing Units | 153 ( 5.7%) |
| Median Home Value | $278,455 |
| Average Home Value | $309,011 |
Housing Distribution
Address Breakdown
Residential
2,586
Single Family
2,408
Multi-Family
178
Businesses
271
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Listed by: Jill Pluim • Realty Associates
Mls Name: Northwest Iowa Regional BOR
Mls Provider:
Mls ID: #826546
Disclaimer: Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing information is deemed reliable, but not guaranteed.