650 Memorial Dr SECedar RapidsIA52403
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash Flow650 Memorial Dr SE, Cedar Rapids, IA, 52403 in Cedar Rapids earns its strong cash-flow label: 13.88% yield, $1,643/mo rent, $692/mo net income, DSCR 2.57. The $142,000 acquisition cost produces immediate returns that put this property in the top tier for U.S. income assets accessible via Ziffy Mortgage's rental-income underwriting. Long-term, 5% annual appreciation adds $39,232 by year five. Combined with $1,308/yr in principal paydown, total projected return reaches $98,721.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 13.9% | 7.2% |
| Monthly Cash Flow | $692 | $450 |
City averages based on Cedar Rapids market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,643 |
| Total Monthly Debt Service | $894 |
| DSCR Ratio | 1.84x |
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 1949
9,321 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52403, Cedar Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,261 (100%) |
| Owner Occupied HU | 7,355 (65.3%) |
| Renter Occupied HU | 2,954 (26.2%) |
| Vacant Housing Units | 952 ( 8.5%) |
| Median Home Value | $240,295 |
| Average Home Value | $311,384 |
Housing Distribution
Address Breakdown
Residential
10,390
Single Family
8,523
Multi-Family
1,867
Businesses
288
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 1949
9,321 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52403, Cedar Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,261 (100%) |
| Owner Occupied HU | 7,355 (65.3%) |
| Renter Occupied HU | 2,954 (26.2%) |
| Vacant Housing Units | 952 ( 8.5%) |
| Median Home Value | $240,295 |
| Average Home Value | $311,384 |
Housing Distribution
Address Breakdown
Residential
10,390
Single Family
8,523
Multi-Family
1,867
Businesses
288
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Tina Wing • Keller Williams Legacy Group
Mls Name: CRAAR, CDRMLS
Mls Provider:
Mls ID: #2407097
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.