616 24th St NWCedar RapidsIA52405
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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 Cedar Rapids at 616 24th St NW, Cedar Rapids, IA, 52405 generates $1,162/mo in rent, after a $905/mo payment. Total monthly income is $1,162/mo. Return on cash invested sits at 19.15% in year one, and rental yield is 7.54% on a $185,000 entry. Equity gained on principal adds $1,194/yr, while 5% annual appreciation builds toward $51,112 over five years. Five-year ROI reaches 99.13% and total cumulative return in cash sums $60,795. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,162/mo property income rather than buyer’s personal income.
Single Family
Built in 1964
8,102 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52405, Cedar Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,239 (100%) |
| Owner Occupied HU | 7,767 (69.1%) |
| Renter Occupied HU | 2,888 (25.7%) |
| Vacant Housing Units | 584 ( 5.2%) |
| Median Home Value | $199,987 |
| Average Home Value | $230,161 |
Housing Distribution
Address Breakdown
Residential
11,162
Single Family
9,355
Multi-Family
1,807
Businesses
256
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Listed by: Tyler Donahue • Realty87
Mls Name: CRAAR, CDRMLS
Mls ID: #2506945