8705 Lewis Drs SW #BCedar RapidsIA52404
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowFew Cedar Rapids rentals match the income profile of 8705 Lewis Drs SW #B, Cedar Rapids, IA, 52404. Listed at $234,750, gross rent is $2,036/mo and net cash flow is $512/mo, a 10.41% yield well above national averages. DSCR 1.93 means Ziffy Mortgage can approve your loan on the property's income alone, bypassing personal income verification. The 5% annual appreciation trend adds $64,857 by year five with $2,162/yr in annual principal reduction, projecting $122,230 in total cumulative return.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.4% | 7.2% |
| Monthly Cash Flow | $512 | $450 |
City averages based on Cedar Rapids market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,036 |
| Total Monthly Debt Service | $1,431 |
| DSCR Ratio | 1.42x |
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 2025
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52404, Cedar Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,968 (100%) |
| Owner Occupied HU | 11,682 (55.7%) |
| Renter Occupied HU | 7,536 (35.9%) |
| Vacant Housing Units | 1,750 ( 8.3%) |
| Median Home Value | $201,736 |
| Average Home Value | $240,149 |
Housing Distribution
Address Breakdown
Residential
19,505
Single Family
14,648
Multi-Family
4,857
Businesses
1,391
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 2025
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52404, Cedar Rapids, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,968 (100%) |
| Owner Occupied HU | 11,682 (55.7%) |
| Renter Occupied HU | 7,536 (35.9%) |
| Vacant Housing Units | 1,750 ( 8.3%) |
| Median Home Value | $201,736 |
| Average Home Value | $240,149 |
Housing Distribution
Address Breakdown
Residential
19,505
Single Family
14,648
Multi-Family
4,857
Businesses
1,391
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Alexis Kemp • RE/MAX Concepts
Mls Name: Iowa City Area AOR
Mls ID: #202506431