704 NE Spring StAnkenyIA50021
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayAt a 5.93% gross rental yield, 704 NE Spring St, Ankeny, IA, 50021 in Ankeny is priced for capital growth, not immediate cash flow. The $296,000 purchase reflects market confidence in future value: at 5%/yr, the property is forecast to gain $81,779 by year five, with $2,726/yr in additional equity from loan paydown. Ziffy Mortgage's DSCR mortgage (1.11) qualifies for non-U.S. residents without personal income documents. Total five-year projected cumulative return: $84,251.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 5.9% | 7.2% |
| Monthly Cash Flow | $(467) | $850 |
City averages based on Ankeny market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,481 |
| Total Monthly Debt Service | $1,805 |
| DSCR Ratio | 0.82x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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 2008
6,577 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50021, Ankeny, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,241 (100%) |
| Owner Occupied HU | 9,358 (70.7%) |
| Renter Occupied HU | 3,177 (24.0%) |
| Vacant Housing Units | 706 ( 5.3%) |
| Median Home Value | $345,766 |
| Average Home Value | $362,006 |
Housing Distribution
Address Breakdown
Residential
13,385
Single Family
11,141
Multi-Family
2,244
Businesses
1,021
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 2008
6,577 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 50021, Ankeny, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,241 (100%) |
| Owner Occupied HU | 9,358 (70.7%) |
| Renter Occupied HU | 3,177 (24.0%) |
| Vacant Housing Units | 706 ( 5.3%) |
| Median Home Value | $345,766 |
| Average Home Value | $362,006 |
Housing Distribution
Address Breakdown
Residential
13,385
Single Family
11,141
Multi-Family
2,244
Businesses
1,021
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Andrew Springer • RE/MAX Precision
Mls Name: DMMLS
Mls Provider:
Mls ID: #720410
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.