615 E 13th StSpencerIA51301
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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 Spencer at 615 E 13th St, Spencer, IA, 51301 offers a 10.29% rental yield on a $181,000 purchase with $1,552/mo rent. Total monthly income registers $1,552/mo, and a $886/mo payment leaves $376/mo available for distribution. Annual cash flow reaches $4,517/yr on $60,002 to close, and return on cash invested stands at 27.44% in year one. Equity gained on principal adds $1,168/yr while 5% annual appreciation supports $50,007 over five years. Portfolio math shows five-year ROI at 143.67% and total cumulative return in cash at $86,203. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,552/mo property income against a $886/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1961
10,454 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51301, Spencer, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,257 (100%) |
| Owner Occupied HU | 3,762 (60.1%) |
| Renter Occupied HU | 1,788 (28.6%) |
| Vacant Housing Units | 707 (11.3%) |
| Median Home Value | $196,406 |
| Average Home Value | $264,591 |
Housing Distribution
Address Breakdown
Residential
5,949
Single Family
4,996
Multi-Family
953
Businesses
663
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Listed by: Kelly Bierl • Hometown Realty
Mls Name: Iowa Great Lakes BOR
Mls Provider:
Mls ID: #251257
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.