702 W Ohio St, Lenox, IA, 50851 | 6.86% Rental Yield

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702 W Ohio St, Lenox, IA, 50851 | 6.86% Rental Yield | 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 Lenox at 702 W Ohio St, Lenox, IA, 50851 with 5% annual appreciation on a $235,000 basis while $1,343/mo rent supports operations. 09% in year one. Equity gained on principal adds $1,516/yr, and five-year appreciation sums $64,926 alongside rental yield of 6.86%. Five-year ROI measures 88.12% and total cumulative return in cash totals $68,644. Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $1,343/mo property income versus a $1,150/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.

Single Family

Built in 1969

0.36 Acres lot

$N/A/sqft

No HOA

More details about the property

This Older 3 Bedroom Ranch has so much potential, full finished basement with egress window. The main floor primary bedroom has ensuite with shower. The home has 2 full baths and 2 1/2 baths. This home is in original condition, the kitchen has counter stove top and wall oven with open concept. Two wood fireplaces and sliding patio doors off the living room. The Garage has been converted to living space space with separate furnace and 2 sets of patio doors, easily converted back to 2 car attached garage. Large mature trees in the front and back of the property. Designated laundry with access to back yard. Closets in almost every room! These older Ranch homes have lots of storage, rooms are large and the possibilities are endless .Seller makes no warranties or representations. Buyer to verify all information. There is a 10 day market requirement for all offers. This property is Corporate owned. Seller will review any and all offers received after April 7, 2025

Neighborhood Data

Neighborhood data shown for ZIP Code: 50851, Lenox, IA area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	922 (100%)
Owner Occupied HU	579 (62.8%)
Renter Occupied HU	227 (24.6%)
Vacant Housing Units	116 (12.6%)
Median Home Value	$141,810
Average Home Value	$198,541