602 S Main StFairfieldIA52556
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowDay-one income is the story at 602 S Main St, Fairfield, IA, 52556 in Fairfield. Priced at $302,000, it generates $2,927/mo in gross rent and $965/mo in net monthly cash flow, a 11.63% yield that comfortably supports the 2.16 DSCR needed for Ziffy Mortgage's no-W2 DSCR mortgage. Projected annual cash flow: $11,586. Five-year appreciation: $83,437. Equity from principal paydown: $2,781/yr. Total projected cumulative return: $177,049.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.6% | 7.0% |
| Monthly Cash Flow | $965 | $300 |
City averages based on Fairfield market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,927 |
| Total Monthly Debt Service | $1,841 |
| DSCR Ratio | 1.59x |
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 1900
0.77 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52556, Fairfield, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,288 (100%) |
| Owner Occupied HU | 3,507 (55.8%) |
| Renter Occupied HU | 2,071 (32.9%) |
| Vacant Housing Units | 710 (11.3%) |
| Median Home Value | $188,780 |
| Average Home Value | $222,983 |
Housing Distribution
Address Breakdown
Residential
5,728
Single Family
5,280
Multi-Family
448
Businesses
820
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 1900
0.77 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52556, Fairfield, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,288 (100%) |
| Owner Occupied HU | 3,507 (55.8%) |
| Renter Occupied HU | 2,071 (32.9%) |
| Vacant Housing Units | 710 (11.3%) |
| Median Home Value | $188,780 |
| Average Home Value | $222,983 |
Housing Distribution
Address Breakdown
Residential
5,728
Single Family
5,280
Multi-Family
448
Businesses
820
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Tammy Dunbar • Fairfield Real Estate
Mls Name: NoCoast MLS
Mls Provider:
Mls ID: #6328226
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.