815 Edward Ct SECedar RapidsIA52403
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 815 Edward Ct SE, Cedar Rapids, IA, 52403 in Cedar Rapids at $135,000 earns $1,051/mo in rent and nets $174/mo after the $607/mo payment, a 9.34% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $37,298 over five years. Ziffy Mortgage underwrites this on a 1.73 DSCR without U.S. credit history. With $1,243/yr in principal paydown, total projected return reaches $62,582.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.3% | 7.2% |
| Monthly Cash Flow | $174 | $450 |
City averages based on Cedar Rapids market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,051 |
| Total Monthly Debt Service | $823 |
| DSCR Ratio | 1.28x |
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.
Condo
Built in 1989
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52403, Cedar Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,261 (100%) |
| Owner Occupied HU | 7,355 (65.3%) |
| Renter Occupied HU | 2,954 (26.2%) |
| Vacant Housing Units | 952 ( 8.5%) |
| Median Home Value | $240,295 |
| Average Home Value | $311,384 |
Housing Distribution
Address Breakdown
Residential
10,390
Single Family
8,523
Multi-Family
1,867
Businesses
288
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
Condo
Built in 1989
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52403, Cedar Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,261 (100%) |
| Owner Occupied HU | 7,355 (65.3%) |
| Renter Occupied HU | 2,954 (26.2%) |
| Vacant Housing Units | 952 ( 8.5%) |
| Median Home Value | $240,295 |
| Average Home Value | $311,384 |
Housing Distribution
Address Breakdown
Residential
10,390
Single Family
8,523
Multi-Family
1,867
Businesses
288
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Bonnie Tiernan • Realty87
Mls Name: Iowa City Area AOR
Mls ID: #202504790