6664 Highway 28, Norwalk, IA, 50211 | $121/mo Cash Flow

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Price: $300K - 500K

Monthly Cash Flow: 1 - 3k+

Home Type: Single Family

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6664 Highway 28, Norwalk, IA, 50211 | $121/mo Cash Flow | Ziffy

For Sale

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 Norwalk at 6664 Highway 28, Norwalk, IA, 50211 uses $116,022 cash to close to unlock $1,452/yr annual cash flow and $121/mo monthly cash flow. Total monthly income runs $2,394/mo, and a $1,713/mo payment keeps the spread at $121/mo. Purchase price stands at $349,990, and rental yield measures 8.21% with $2,394/mo rent. Return on cash invested shows 21.16% in year one, and 5% annual appreciation builds toward $96,696 over five years. Five-year ROI reaches 110% and total cumulative return in cash records $127,619. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,394/mo property income covering a $1,713/mo payment rather than investor’s personal income.

Single Family

Built in 1982

2 Acres lot

$N/A/sqft

No HOA

More details about the property

Looking for a little acreage just outside of town? Look no further! This charming 3-bed, 1-bath home sits on 2 beautiful acres and includes a 3-stall detached garage. TONS of updates throughout this property and Conveniently located just 20 minutes from West Des Moines and 25 minutes from downtown, you truly can't beat this location for the price! The property has a mile-long list of updates (ask your agent for the full rundown!), but a few highlights include a brand-new septic system installed in 2022, a fully remodeled and climate-controlled garage with heat, A/C, a dehumidifier, and a dry bar, plus over 10 new trees planted across the property. The completely remodeled and insulated four-season room adds an additional 308 square feet of usable space, bringing the total to 1,652 square feet. The home also features new siding, and the wood-burning stove chimney has been updated and converted to stainless steel for longevity, along with a new flue installed inside. Come see this little slice of heaven for yourself! Homes like this don't come around often! Call your agent today to schedule a private tour. All information obtained from seller and public records.

Neighborhood Data

Neighborhood data shown for ZIP Code: 50211, Norwalk, IA area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	6,447 (100%)
Owner Occupied HU	5,103 (79.2%)
Renter Occupied HU	1,010 (15.7%)
Vacant Housing Units	334 ( 5.2%)
Median Home Value	$312,678
Average Home Value	$345,686