906 S Summit StIowa CityIA52240
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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 Iowa City at 906 S Summit St, Iowa City, IA, 52240 priced at $299,900 converts $1,951/mo rent into after a $1,468/mo obligation. Total monthly income equals $1,951/mo. Return on cash invested prints 18.98% in year one, and rental yield reads 7.81% against a $299,900 entry. Equity gained on principal adds $1,935/yr, while 5% annual appreciation compiles into $82,857 by year five. Five-year ROI reaches 98.6% and total cumulative return in cash sums $98,020. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,951/mo property income covering a $1,468/mo payment, not borrower’s personal income.
Single Family
Built in 1950
10,454 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 52240, Iowa City, IA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,775 (100%) |
| Owner Occupied HU | 7,727 (43.5%) |
| Renter Occupied HU | 8,334 (46.9%) |
| Vacant Housing Units | 1,714 ( 9.6%) |
| Median Home Value | $272,152 |
| Average Home Value | $318,955 |
Housing Distribution
Address Breakdown
Residential
16,235
Single Family
10,644
Multi-Family
5,591
Businesses
1,308
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Listed by: Cynthia Clark • Urban Acres Real Estate
Mls Name: Iowa City Area AOR
Mls Provider:
Mls ID: #202405080
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.