6608 Limestone Ct NWCedar RapidsIA52405
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderTight but positive: 6608 Limestone Ct NW, Cedar Rapids, IA, 52405 in Cedar Rapids at $275,000 earns $1,817/mo in rent and nets $31/mo after the $1,237/mo payment, a 7.93% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $75,977 over five years. Ziffy Mortgage underwrites this on a 1.47 DSCR without U.S. credit history. With $2,533/yr in principal paydown, total projected return reaches $106,611.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.9% | 7.2% |
| Monthly Cash Flow | $31 | $450 |
City averages based on Cedar Rapids market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,817 |
| Total Monthly Debt Service | $1,677 |
| 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.
Condo
Built in 2005
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52405, Cedar Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,239 (100%) |
| Owner Occupied HU | 7,767 (69.1%) |
| Renter Occupied HU | 2,888 (25.7%) |
| Vacant Housing Units | 584 ( 5.2%) |
| Median Home Value | $199,987 |
| Average Home Value | $230,161 |
Housing Distribution
Address Breakdown
Residential
11,162
Single Family
9,355
Multi-Family
1,807
Businesses
256
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
Condo
Built in 2005
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52405, Cedar Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,239 (100%) |
| Owner Occupied HU | 7,767 (69.1%) |
| Renter Occupied HU | 2,888 (25.7%) |
| Vacant Housing Units | 584 ( 5.2%) |
| Median Home Value | $199,987 |
| Average Home Value | $230,161 |
Housing Distribution
Address Breakdown
Residential
11,162
Single Family
9,355
Multi-Family
1,807
Businesses
256
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Lana Baldus • SKOGMAN REALTY
Mls Name: CRAAR, CDRMLS
Mls ID: #2508457