10401 Cedar Lake Rd UNIT 209MinnetonkaMN55305
INVESTMENT ANALYSIS
Investment Verdict
Solid Income10401 Cedar Lake Rd UNIT 209, Minnetonka, MN, 55305 in Minnetonka is a solid income-producing rental, 9.54% gross yield, $1,351/mo rent, $289/mo net cash flow on a $170,000 buy. DSCR 1.77 qualifies the property for Ziffy Mortgage's financing without personal income documentation. Five-year appreciation of $46,968 and $1,566/yr in principal reduction project a total cumulative return of $83,172.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.5% | 6.5% |
| Monthly Cash Flow | $289 | $350 |
City averages based on Minnetonka market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,351 |
| Total Monthly Debt Service | $994 |
| DSCR Ratio | 1.36x |
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 1975
1.15 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55305, Hopkins, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,972 (100%) |
| Owner Occupied HU | 5,501 (50.1%) |
| Renter Occupied HU | 4,882 (44.5%) |
| Vacant Housing Units | 589 ( 5.4%) |
| Median Home Value | $498,101 |
| Average Home Value | $575,970 |
Housing Distribution
Address Breakdown
Residential
11,058
Single Family
5,334
Multi-Family
5,724
Businesses
798
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 1975
1.15 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55305, Hopkins, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,972 (100%) |
| Owner Occupied HU | 5,501 (50.1%) |
| Renter Occupied HU | 4,882 (44.5%) |
| Vacant Housing Units | 589 ( 5.4%) |
| Median Home Value | $498,101 |
| Average Home Value | $575,970 |
Housing Distribution
Address Breakdown
Residential
11,058
Single Family
5,334
Multi-Family
5,724
Businesses
798
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Douglas D. Grimm • Grimm & Associates, LLC
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6788079