603 2nd Ave SELe MarsIA51031
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderSteady, low-maintenance, and fundable: 603 2nd Ave SE, Le Mars, IA, 51031 in Le Mars at $254,500. Rental yield 7.11%. The 7.11% yield and 1.32 DSCR put this right in the range Ziffy Mortgage approves for non-U.S. investors without W-2s or domestic credit. Appreciation at 5%/yr is projected to add $70,314 by year five, and $2,344/yr in principal reduction steadily grows the investor's stake. Total projected cumulative return: $81,483.
| This Property | National Avg | |
|---|---|---|
| Gross Rental Yield | 7.1% | 6.2% |
| Monthly Cash Flow | $(246) | $180 |
National averages based on 2024–2025 U.S. residential rental market data. Content is user-generated and unverified.
DSCR Loan Qualification
| Monthly Rental Income | $1,507 |
| Total Monthly Debt Service | $1,652 |
| DSCR Ratio | 0.91x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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.
Condo
Built in 1986
3,920 sqft lot
$N/A/sqft
$100 monthly HOA
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
Condo
Built in 1986
3,920 sqft lot
$N/A/sqft
$100 monthly HOA
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Lisa R Pageler • 1st Choice Realty
Mls Name: Northwest Iowa Regional BOR
Mls Provider:
Mls ID: #830044
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.