609 34th St NECedar RapidsIA52402
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThis Cedar Rapids rental at 609 34th St NE, Cedar Rapids, IA, 52402 sits in the solid-income band: 11.07% gross yield, $1,351/mo rent, $400/mo net after the $659/mo debt service, DSCR 2.05. Entry price of $146,500 is well-calibrated for the income it produces. Ziffy Mortgage finances this type of asset on rental income alone, no tax returns, no U.S. credit profile. Projected five-year appreciation of $40,475 and $1,349/yr in principal reduction bring total cumulative return to $81,455.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.1% | 7.2% |
| Monthly Cash Flow | $400 | $450 |
City averages based on Cedar Rapids market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,351 |
| Total Monthly Debt Service | $893 |
| DSCR Ratio | 1.51x |
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 1924
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52402, Cedar Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,282 (100%) |
| Owner Occupied HU | 11,711 (60.7%) |
| Renter Occupied HU | 6,275 (32.5%) |
| Vacant Housing Units | 1,296 ( 6.7%) |
| Median Home Value | $208,064 |
| Average Home Value | $237,802 |
Housing Distribution
Address Breakdown
Residential
18,597
Single Family
14,279
Multi-Family
4,318
Businesses
1,495
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 1924
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52402, Cedar Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,282 (100%) |
| Owner Occupied HU | 11,711 (60.7%) |
| Renter Occupied HU | 6,275 (32.5%) |
| Vacant Housing Units | 1,296 ( 6.7%) |
| Median Home Value | $208,064 |
| Average Home Value | $237,802 |
Housing Distribution
Address Breakdown
Residential
18,597
Single Family
14,279
Multi-Family
4,318
Businesses
1,495
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jesse Grade • Skogman Realty Co.
Mls Name: Iowa City Area AOR
Mls Provider:
Mls ID: #202504480
Disclaimer: IDX information is provided exclusively for consumers personal, non-commercial use, that it 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 accurate by the MLS.