6615 Creekside Dr NE UNIT 11, Cedar Rapids, IA, 52402 | $469/mo Cash Flow

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6615 Creekside Dr NE UNIT 11, Cedar Rapids, IA, 52402 | $469/mo Cash Flow | Ziffy

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Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Investment property for sale in Cedar Rapids at 6615 Creekside Dr NE UNIT 11, Cedar Rapids, IA, 52402 listed at $119,900 pairs $1,248/mo rent with a $587/mo payment to leave $469/mo cash flow. Total monthly income runs $1,248/mo, and annual cash flow reaches $5,630/yr on $39,747 cash to close. Return on cash invested measures 34.07% in year one, and rental yield registers 12.49% at a $119,900 basis. Equity gained on principal adds $774/yr, and annual property appreciation at 5% supports $33,126 by year five. Five-year ROI tracks 179.33% and total cumulative return in cash totals $71,280. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,248/mo property income relative to a $587/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).

Condo

Built in 2000

N/A lot

$N/A/sqft

No HOA

More details about the property

Welcome to this lovely 2-bedroom, 1-bath condo located in the desirable Summer Hill community! Situated on the Third Floor, this home offers a bright and open floor plan, perfect for easy living and entertaining. Carpet throughout the living room and bedrooms. Cozy up by the fireplace in the spacious living area or step out to the private deck. Enjoy the convenience of a detached 1-stall garage for additional storage and parking. This well-maintained unit is part of a peaceful, owner-occupied communityplease note, the HOA does not permit future rentals, so its ideal for those seeking a long-term home. Dont miss the opportunity to make this condo your own! Schedule a showing today!

Neighborhood Data

Neighborhood data shown for ZIP Code: 52402, Cedar Rapids, IA area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	19,282 (100%)
Owner Occupied HU	11,711 (60.7%)
Renter Occupied HU	6,275 (32.5%)
Vacant Housing Units	1,296 ( 6.7%)
Median Home Value	$208,064
Average Home Value	$237,802