6524 Michael Dr NECedar RapidsIA52411
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderTight but positive: 6524 Michael Dr NE, Cedar Rapids, IA, 52411 in Cedar Rapids at $589,500 earns $3,886/mo in rent and nets $57/mo after the $2,651/mo payment, a 7.91% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $162,868 over five years. Ziffy Mortgage underwrites this on a 1.47 DSCR without U.S. credit history. With $5,429/yr in principal paydown, total projected return reaches $227,992.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.9% | 7.2% |
| Monthly Cash Flow | $57 | $450 |
City averages based on Cedar Rapids market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,886 |
| Total Monthly Debt Service | $3,594 |
| DSCR Ratio | 1.08x |
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 2016
0.50 Acres lot
$N/A/sqft
No HOA
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 2016
0.50 Acres lot
$N/A/sqft
No HOA
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Chad Gloede • RE/MAX CONCEPTS
Mls Name: CRAAR, CDRMLS
Mls ID: #2508524