1040 24th Ave SEMinneapolisMN55414
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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
Investment property for sale in Minneapolis at 1040 24th Ave SE, Minneapolis, MN, 55414 uses $46,410 cash to close to unlock $2,808/yr annual cash flow and $234/mo monthly cash flow. Total monthly income runs $1,108/mo, and a $685/mo payment keeps the spread at $234/mo. Purchase price stands at $140,000, and rental yield measures 9.5% with $1,108/mo rent. Return on cash invested shows 25.96% in year one, and 5% annual appreciation builds toward $38,679 over five years. Five-year ROI reaches 135.33% and total cumulative return in cash records $62,806. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,108/mo property income covering a $685/mo payment rather than investor’s personal income.
Single Family
Built in 1911
5,227 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55414, Minneapolis, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,046 (100%) |
| Owner Occupied HU | 1,975 (11.6%) |
| Renter Occupied HU | 13,966 (81.9%) |
| Vacant Housing Units | 1,105 ( 6.5%) |
| Median Home Value | $540,769 |
| Average Home Value | $636,285 |
Housing Distribution
Address Breakdown
Residential
16,725
Single Family
4,350
Multi-Family
12,375
Businesses
1,032
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Listed by: Renee Johnson • Kontor Realty Group
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6761795