603 E 18th StSpencerIA51301
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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 Spencer at 603 E 18th St, Spencer, IA, 51301 offers a 10.03% rental yield on a $128,500 purchase with $1,074/mo rent. Total monthly income registers $1,074/mo, and a $629/mo payment leaves $239/mo available for distribution. Annual cash flow reaches $2,873/yr on $42,598 to close, and return on cash invested stands at 26.65% in year one. Equity gained on principal adds $829/yr while 5% annual appreciation supports $35,502 over five years. Portfolio math shows five-year ROI at 139.47% and total cumulative return in cash at $59,412. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,074/mo property income against a $629/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1994
0.29 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51301, Spencer, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,257 (100%) |
| Owner Occupied HU | 3,762 (60.1%) |
| Renter Occupied HU | 1,788 (28.6%) |
| Vacant Housing Units | 707 (11.3%) |
| Median Home Value | $196,406 |
| Average Home Value | $264,591 |
Housing Distribution
Address Breakdown
Residential
5,949
Single Family
4,996
Multi-Family
953
Businesses
663
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