807 Old Mill LnSolonIA52333
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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
Rental property for sale in Solon at 807 Old Mill Ln, Solon, IA, 52333 priced at $405,000 converts $4,507/mo rent into $1,877/mo cash flow after a $1,982/mo obligation. Total monthly income equals $4,507/mo, and annual cash flow totals $22,524/yr on $134,258 invested. Return on cash invested prints 36.69% in year one, and rental yield reads 13.35% against a $405,000 entry. Equity gained on principal adds $2,613/yr, while 5% annual appreciation compiles into $111,894 by year five. Five-year ROI reaches 193.2% and total cumulative return in cash sums $259,382. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $4,507/mo property income covering a $1,982/mo payment, not borrower’s personal income.
Single Family
Built in 2023
9,583 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52333, Solon, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,033 (100%) |
| Owner Occupied HU | 2,525 (83.3%) |
| Renter Occupied HU | 345 (11.4%) |
| Vacant Housing Units | 163 ( 5.4%) |
| Median Home Value | $386,995 |
| Average Home Value | $538,050 |
Housing Distribution
Address Breakdown
Residential
2,914
Single Family
2,840
Multi-Family
74
Businesses
179
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Listed by: Jerad Ruth • Skogman Realty Co.
Mls Name: Iowa City Area AOR
Mls Provider:
Mls ID: #202502257
Disclaimer: IDX information is provided exclusively for consumers personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing information is deemed reliable, but not guaranteed accurate by the MLS.