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$85,000

For Sale - Active
237 1st Ave, Clinton, IA 52732
2 Beds
1 Bath
1,046 Square Feet
0.00 Acres Lot
Built in 1900
For Sale - Active
Units n/a
Checked: 1 hour ago
Updated: May 30, 2025 at 09:43AM

Investment Summary


Monthly Cash Flow
$145
Cap Rate
7.7%
Cash-on-Cash Return
8.9%
Debt Coverage Ratio
1.36
Internal Rate of Return (5 years)
12.7%

Property Description


0.00 Acres Lot
Built in 1900
For Sale - Active
Units n/a

Come check out this cozy 2 bedroom 1 bath home! The property has a spacious 3 season front porch. Updated kitchen with laundry hook ups. The seller is offering a $1,000.00 kitchen flooring allowance. The home features a large open living space and dining room right off the kitchen. Great oversized 1 car garage in back with lots of storage space or room for hobbies! It also has a nice concrete patio in backyard. You don't want to miss this! Home being sold as is.

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Location


Property Details


Parking

  • Description: Detached Garage
  • Details: On Street, Gravel, Oversized
  • Garage Spaces: 1
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Partial): 0
  • # of Baths (Total): 1.0

Interior Features

  • # of Rooms: 4
  • # of Stories: 1
  • Basement: Yes
  • Basement Description: Unfinished

Exterior Features

  • Exterior Walls Materials: Vinyl siding
  • Roof Type: Gable
  • Roof Material: Shingle

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 8013000000
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 1900

Tax Information

  • Annual Tax: $890

Utilities

  • Water & Sewer: Public
  • Heating: Natural Gas
  • Cooling: Central Air

Location

  • County: Clinton

Listing Details


Listed by:
Rachel Fuller
Gateway Realty Group
(563) 519-8826

Source:
RMLS Alliance
MLS#: QC4263362
RMLS Alliance

Investment Summary


Monthly Cash Flow
$145
Cap Rate
7.7%
Cash-on-Cash Return
8.9%
Debt Coverage Ratio
1.36
Internal Rate of Return (5 years)
12.7%

Purchase Details

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Purchase price:
$85,000
Amount financed:
-$68,000
Down payment:
$17,000
Closing costs:
$2,550
Rehab costs:
$0
Initial cash invested:
$19,550
Square feet:
1,046
Cost per square foot:
$81
Monthly rent per square foot:
$0.86

Financing Details

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Loan amount:
$68,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$402
Property tax:
$74
Insurance:
$63
Private mortgage insurance (PMI):
$0
Monthly payment:
$539

Operating Income

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% Rent Monthly Yearly
Gross rent:
$900 $10,800
Vacancy loss: (6%)
6% -$54 -$648
Operating income:
$846 $10,152

Operating Expenses


% Rent Monthly Yearly
Property taxes: (8%)
8%-$74-$890
Insurance: (7%)
7%-$63-$756
Property management: (8%)
8%-$72-$864
Repairs & maintenance: (5%)
5%-$45-$540
Capital expenditures: (5%)
5%-$45-$540
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (33%)
33%-$299-$3,590

Cash Flow


Monthly Yearly
Net operating income:
$547 $6,564
Mortgage payments:
-$402 -$4,824
Cash flow:
$145 $1,740