701 7th StSpirit LakeIA51360
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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
Investment Highlights
Investment property for sale in Spirit Lake at 701 7th St, Spirit Lake, IA, 51360 uses $82,709 cash to close to unlock $5,758/yr annual cash flow and $480/mo monthly cash flow. Total monthly income runs $2,100/mo, and a $1,221/mo payment keeps the spread at $480/mo. Purchase price stands at $249,500, and rental yield measures 10.1% with $2,100/mo rent. Return on cash invested shows 26.87% in year one, and 5% annual appreciation builds toward $68,932 over five years. Five-year ROI reaches 140.59% and total cumulative return in cash records $116,277. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,100/mo property income covering a $1,221/mo payment rather than investor’s personal income.
Single Family
Built in 1973
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 51360, Spirit Lake, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,264 (100%) |
| Owner Occupied HU | 3,158 (43.5%) |
| Renter Occupied HU | 885 (12.2%) |
| Vacant Housing Units | 3,221 (44.3%) |
| Median Home Value | $353,365 |
| Average Home Value | $492,400 |
Housing Distribution
Address Breakdown
Residential
4,782
Single Family
4,272
Multi-Family
510
Businesses
489
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Listed by: Mary Lynn Ingvall • Ingvall Real Estate Team
Mls Name: Iowa Great Lakes BOR
Mls Provider:
Mls ID: #251118
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.