602 6th AveShenandoahIA51601
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe 8.82% yield at 602 6th Ave, Shenandoah, IA, 51601 in Shenandoah is solid, but the $978/mo payment compresses net cash flow to $186/mo at $217,500. This is a tight-spread property, income covers debt, with little cushion. For investors who can optimise occupancy, the upside is real: 5% annual appreciation adds $60,091 by year five, and $2,003/yr in loan paydown builds equity. Ziffy Mortgage qualifies this via DSCR (1.63) without U.S. income documentation. Total projected return: $94,701.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.8% | 7.5% |
| Monthly Cash Flow | $186 | $300 |
City averages based on Shenandoah market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,598 |
| Total Monthly Debt Service | $1,326 |
| DSCR Ratio | 1.21x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1907
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51601, Shenandoah, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,905 (100%) |
| Owner Occupied HU | 1,629 (56.1%) |
| Renter Occupied HU | 937 (32.3%) |
| Vacant Housing Units | 339 (11.7%) |
| Median Home Value | $134,422 |
| Average Home Value | $177,239 |
Housing Distribution
Address Breakdown
Residential
2,593
Single Family
2,292
Multi-Family
301
Businesses
292
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Single Family
Built in 1907
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51601, Shenandoah, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,905 (100%) |
| Owner Occupied HU | 1,629 (56.1%) |
| Renter Occupied HU | 937 (32.3%) |
| Vacant Housing Units | 339 (11.7%) |
| Median Home Value | $134,422 |
| Average Home Value | $177,239 |
Housing Distribution
Address Breakdown
Residential
2,593
Single Family
2,292
Multi-Family
301
Businesses
292
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Amy Zwickel • Jim Hughes Real Estate
Mls Name: My State MLS
Mls ID: #11548467