608 N Claire StPrairie CityIA50228
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe 8.25% yield at 608 N Claire St, Prairie City, IA, 50228 in Prairie City is solid, but the $1,056/mo payment compresses net cash flow to $88/mo at $234,900. 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 $64,899 by year five, and $2,163/yr in loan paydown builds equity. Ziffy Mortgage qualifies this via DSCR (1.53) without U.S. income documentation. Total projected return: $95,123.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.3% | 7.0% |
| Monthly Cash Flow | $88 | $250 |
City averages based on Prairie City market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,614 |
| Total Monthly Debt Service | $1,432 |
| DSCR Ratio | 1.13x |
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 1973
9,583 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50228, Prairie City, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,026 (100%) |
| Owner Occupied HU | 753 (73.4%) |
| Renter Occupied HU | 212 (20.7%) |
| Vacant Housing Units | 61 ( 5.9%) |
| Median Home Value | $204,457 |
| Average Home Value | $234,641 |
Housing Distribution
Address Breakdown
Residential
749
Single Family
749
Multi-Family
0
Businesses
63
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 1973
9,583 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50228, Prairie City, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,026 (100%) |
| Owner Occupied HU | 753 (73.4%) |
| Renter Occupied HU | 212 (20.7%) |
| Vacant Housing Units | 61 ( 5.9%) |
| Median Home Value | $204,457 |
| Average Home Value | $234,641 |
Housing Distribution
Address Breakdown
Residential
749
Single Family
749
Multi-Family
0
Businesses
63
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Angela Meek • RE/MAX Concepts
Mls Name: DMMLS
Mls Provider:
Mls ID: #709422
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.