6715 Creekside Dr NE UNIT 5Cedar RapidsIA52402
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowNot flashy, but dependably profitable, 6715 Creekside Dr NE UNIT 5, Cedar Rapids, IA, 52402 in Cedar Rapids is listed at $118,000 and delivers $1,265/mo in rent and $498/mo in net monthly cash flow. The 12.86% yield and 2.38 DSCR provide the underwriting comfort Ziffy Mortgage needs to approve a DSCR loan without W-2 or tax-return documentation. Projected 5% annual appreciation adds $32,601 over five years, and $1,087/yr in principal reduction supplements cash return. Total projected cumulative return: $77,016.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 12.9% | 7.2% |
| Monthly Cash Flow | $498 | $450 |
City averages based on Cedar Rapids market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,265 |
| Total Monthly Debt Service | $719 |
| DSCR Ratio | 1.76x |
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 2002
N/A lot
$N/A/sqft
No HOA
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 |
Housing Distribution
Address Breakdown
Residential
18,597
Single Family
14,279
Multi-Family
4,318
Businesses
1,495
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 2002
N/A lot
$N/A/sqft
No HOA
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 |
Housing Distribution
Address Breakdown
Residential
18,597
Single Family
14,279
Multi-Family
4,318
Businesses
1,495
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jerome Edwards • Pinnacle Realty LLC
Mls Name: CRAAR, CDRMLS
Mls ID: #2506230