623 Railroad AveCorrectionvilleIA51016
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeAt $115,000, 623 Railroad Ave, Correctionville, IA, 51016 in Correctionville generates $868/mo in rent (9.06% yield) but nets only $121/mo after debt service. The spread is thin, manageable for investors comfortable with low-margin holds who are buying into the 5% annual appreciation thesis. Ziffy Mortgage's DSCR loan (1.68) allows non-U.S. residents to acquire without personal income checks. A larger down payment reduces the monthly debt load and widens the margin. Five-year appreciation: $31,772. Total projected return: $51,551.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.1% | 5.0% |
| Monthly Cash Flow | $121 | $300 |
City averages based on Correctionville market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $868 |
| Total Monthly Debt Service | $701 |
| DSCR Ratio | 1.24x |
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 1977
0.25 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51016, Correctionville, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 615 (100%) |
| Owner Occupied HU | 454 (73.8%) |
| Renter Occupied HU | 85 (13.8%) |
| Vacant Housing Units | 76 (12.4%) |
| Median Home Value | $185,465 |
| Average Home Value | $239,372 |
Housing Distribution
Address Breakdown
Residential
405
Single Family
399
Multi-Family
6
Businesses
37
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 1977
0.25 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51016, Correctionville, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 615 (100%) |
| Owner Occupied HU | 454 (73.8%) |
| Renter Occupied HU | 85 (13.8%) |
| Vacant Housing Units | 76 (12.4%) |
| Median Home Value | $185,465 |
| Average Home Value | $239,372 |
Housing Distribution
Address Breakdown
Residential
405
Single Family
399
Multi-Family
6
Businesses
37
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jessica Cross • NextHome Tri State Realty
Mls Name: Northwest Iowa Regional BOR
Mls ID: #831717