622 E Iowa StRapid CitySD57701
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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 Rapid City at 622 E Iowa St, Rapid City, SD, 57701 generates $1,614/mo in rent and, after a $1,248/mo payment, leaves $3/mo in cash flow. Total monthly income is $1,614/mo, and annual cash flow is $31/yr on $84,533 invested. Return on cash invested sits at 19.95% in year one, and rental yield is 7.6% on a $255,000 entry. Equity gained on principal adds $1,645/yr, while 5% annual appreciation builds toward $70,452 over five years. Five-year ROI reaches 103.21% and total cumulative return in cash sums $87,248. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,614/mo property income rather than buyer’s personal income.
Single Family
Built in 1955
7,840 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 57701, Rapid City, SD area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 22,911 (100%) |
| Owner Occupied HU | 11,148 (48.7%) |
| Renter Occupied HU | 10,021 (43.7%) |
| Vacant Housing Units | 1,742 ( 7.6%) |
| Median Home Value | $286,770 |
| Average Home Value | $316,857 |
Housing Distribution
Address Breakdown
Residential
20,368
Single Family
16,786
Multi-Family
3,582
Businesses
2,132
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Listed by: Leslie Homa • Century 21 Clearview Realty
Mls Name: Mount Rushmore Area AOR
Mls Provider:
Mls ID: #84508
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