606 N Iowa AveNora SpringsIA50458
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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
Rental property for sale in Nora Springs at 606 N Iowa Ave, Nora Springs, IA, 50458 offers $1,249/mo rent that, after a $776/mo payment, leaves $219/mo cash flow. Total monthly income is $1,249/mo, and annual cash flow is $2,633/yr on $52,543 cash. Return on cash invested measures 24.92% in year one, and rental yield stands at 9.46% at a $158,500 entry. Equity gained on principal adds $1,023/yr while 5% annual appreciation compounds into $43,791 by year five. Five-year ROI records 130.18% and total cumulative return in cash reaches $68,399. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,249/mo property income versus a $776/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1959
0.65 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50458, Nora Springs, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 844 (100%) |
| Owner Occupied HU | 669 (79.3%) |
| Renter Occupied HU | 112 (13.3%) |
| Vacant Housing Units | 63 ( 7.5%) |
| Median Home Value | $187,868 |
| Average Home Value | $257,474 |
Housing Distribution
Address Breakdown
Residential
588
Single Family
580
Multi-Family
8
Businesses
51
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Listed by: JESSICA SEARS • Realty One Group Welcome Home
Mls Name: Greater Mason BOR
Mls Provider:
Mls ID: #250538
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.