603 Mill Pond RdRock RapidsIA51246
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderThe 7.81% yield at 603 Mill Pond Rd, Rock Rapids, IA, 51246 in Rock Rapids is solid, but the $1,662/mo payment compresses net cash flow to $6/mo at $369,700. 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 $102,141 by year five, and $3,405/yr in loan paydown builds equity. Ziffy Mortgage qualifies this via DSCR (1.45) without U.S. income documentation. Total projected return: $141,104.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.8% | 6.2% |
| Monthly Cash Flow | $6 | $150 |
City averages based on Rock Rapids market data in our database. Property projections are estimates.
DSCR Rental Loan Qualification
Qualifies using the property's rental income, not your personal income.
- ✓No W-2, pay stubs, or tax returns needed
- ✓Rental income qualifies you
- ✓Built for real estate investors
| Monthly Rental Income | $2,407 |
| Total Monthly Debt Service | $2,254 |
| DSCR Ratio | 1.07x |
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 2024
0.34 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51246, Rock Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,621 (100%) |
| Owner Occupied HU | 1,189 (73.3%) |
| Renter Occupied HU | 297 (18.3%) |
| Vacant Housing Units | 135 ( 8.3%) |
| Median Home Value | $247,222 |
| Average Home Value | $378,673 |
Housing Distribution
Address Breakdown
Residential
1,506
Single Family
1,422
Multi-Family
84
Businesses
166
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 2024
0.34 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51246, Rock Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,621 (100%) |
| Owner Occupied HU | 1,189 (73.3%) |
| Renter Occupied HU | 297 (18.3%) |
| Vacant Housing Units | 135 ( 8.3%) |
| Median Home Value | $247,222 |
| Average Home Value | $378,673 |
Housing Distribution
Address Breakdown
Residential
1,506
Single Family
1,422
Multi-Family
84
Businesses
166
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: Northwest Iowa Regional BOR
Mls ID: #832781