650 Memorial Dr SECedar RapidsIA52403
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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 650 Memorial Dr SE, Cedar Rapids, IA, 52403 offers $1,643/mo rent that, after a $695/mo payment, leaves $692/mo cash flow. Total monthly income is $1,643/mo, and annual cash flow is $8,307/yr on $47,073 cash. Return on cash invested measures 37.56% in year one, and rental yield stands at 13.88% at a $142,000 entry. Equity gained on principal adds $916/yr while 5% annual appreciation compounds into $39,232 by year five. Five-year ROI records 198.23% and total cumulative return in cash reaches $93,314. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,643/mo property income versus a $695/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
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
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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.