1020 2nd AveHoward LakeMN55349
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
Investment Highlights
Investment property for sale in Howard Lake at 1020 2nd Ave, Howard Lake, MN, 55349 offers a 8.4% rental yield on a $359,900 purchase with $2,518/mo rent. Total monthly income registers $2,518/mo, and a $1,762/mo payment leaves $270/mo available for distribution. Annual cash flow reaches $3,242/yr on $119,307 to close, and return on cash invested stands at 22.63% in year one. Equity gained on principal adds $2,322/yr while 5% annual appreciation supports $99,434 over five years. Portfolio math shows five-year ROI at 117.51% and total cumulative return in cash at $140,198. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,518/mo property income against a $1,762/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1997
0.49 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55349, Howard Lake, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,820 (100%) |
| Owner Occupied HU | 1,366 (75.1%) |
| Renter Occupied HU | 327 (18.0%) |
| Vacant Housing Units | 127 ( 7.0%) |
| Median Home Value | $426,106 |
| Average Home Value | $486,684 |
Housing Distribution
Address Breakdown
Residential
1,253
Single Family
1,109
Multi-Family
144
Businesses
100
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Listed by: Crystal Marlette • Exit Realty Hometown Advantage
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6821172