702 N Main StElkaderIA52043
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe cash-flow margin at 702 N Main St, Elkader, IA, 52043 in Elkader is narrow, $143/mo net on $997/mo rent after the $591/mo debt service, but the property operates at break-even-plus, not a loss. At $131,472 with a 9.1% yield, the long-run equity case via 5% appreciation ($36,323 over five years) and $1,211/yr in principal paydown is where the returns accumulate. Ziffy Mortgage's 1.69 DSCR loan requires no W-2s or U.S. credit. Total projected cumulative return: $59,264.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.1% | 8.5% |
| Monthly Cash Flow | $143 | $1,200 |
City averages based on Elkader market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $997 |
| Total Monthly Debt Service | $802 |
| DSCR Ratio | 1.24x |
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 1899
7,920 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52043, Elkader, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,088 (100%) |
| Owner Occupied HU | 739 (67.9%) |
| Renter Occupied HU | 219 (20.1%) |
| Vacant Housing Units | 130 (11.9%) |
| Median Home Value | $171,366 |
| Average Home Value | $318,200 |
Housing Distribution
Address Breakdown
Residential
730
Single Family
687
Multi-Family
43
Businesses
144
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 1899
7,920 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52043, Elkader, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,088 (100%) |
| Owner Occupied HU | 739 (67.9%) |
| Renter Occupied HU | 219 (20.1%) |
| Vacant Housing Units | 130 (11.9%) |
| Median Home Value | $171,366 |
| Average Home Value | $318,200 |
Housing Distribution
Address Breakdown
Residential
730
Single Family
687
Multi-Family
43
Businesses
144
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices