6921 Underwood Ave SWCedar RapidsIA52404
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeSolid, durable, and financeable, 6921 Underwood Ave SW, Cedar Rapids, IA, 52404 in Cedar Rapids earns a 8.82% gross yield at $454,500. Rent of $3,341/mo nets $389/mo after the $2,044/mo mortgage. The 1.63 DSCR signals clean DSCR underwriting through Ziffy Mortgage, with no personal income verification required. Five-year value growth of $125,570 and $4,186/yr in equity accumulation project a total cumulative return of $197,978.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.8% | 7.2% |
| Monthly Cash Flow | $389 | $450 |
City averages based on Cedar Rapids market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,341 |
| Total Monthly Debt Service | $2,771 |
| DSCR Ratio | 1.21x |
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 2024
0.26 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52404, Cedar Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,968 (100%) |
| Owner Occupied HU | 11,682 (55.7%) |
| Renter Occupied HU | 7,536 (35.9%) |
| Vacant Housing Units | 1,750 ( 8.3%) |
| Median Home Value | $201,736 |
| Average Home Value | $240,149 |
Housing Distribution
Address Breakdown
Residential
19,505
Single Family
14,648
Multi-Family
4,857
Businesses
1,391
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 2024
0.26 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52404, Cedar Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,968 (100%) |
| Owner Occupied HU | 11,682 (55.7%) |
| Renter Occupied HU | 7,536 (35.9%) |
| Vacant Housing Units | 1,750 ( 8.3%) |
| Median Home Value | $201,736 |
| Average Home Value | $240,149 |
Housing Distribution
Address Breakdown
Residential
19,505
Single Family
14,648
Multi-Family
4,857
Businesses
1,391
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Maggie McCarthy • SKOGMAN REALTY
Mls Name: CRAAR, CDRMLS
Mls Provider:
Mls ID: #2401987
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.