610 Illinois AveEssexIA51638
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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 Essex at 610 Illinois Ave, Essex, IA, 51638 offers a 11.16% rental yield on a $129,000 purchase with $1,200/mo rent. Total monthly income registers $1,200/mo, and a $631/mo payment leaves $363/mo available for distribution. Annual cash flow reaches $4,351/yr on $42,764 to close, and return on cash invested stands at 30.08% in year one. Equity gained on principal adds $832/yr while 5% annual appreciation supports $35,640 over five years. Portfolio math shows five-year ROI at 157.82% and total cumulative return in cash at $67,489. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,200/mo property income against a $631/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1900
0.29 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51638, Essex, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 587 (100%) |
| Owner Occupied HU | 419 (71.4%) |
| Renter Occupied HU | 113 (19.3%) |
| Vacant Housing Units | 55 ( 9.4%) |
| Median Home Value | $125,463 |
| Average Home Value | $186,390 |
Housing Distribution
Address Breakdown
Residential
335
Single Family
301
Multi-Family
34
Businesses
32
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