1044 Lilac LnLake CityMN55041
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
Rental property for sale in Lake City at 1044 Lilac Ln, Lake City, MN, 55041 priced at $345,000 converts $2,380/mo rent into $225/mo cash flow after a $1,689/mo obligation. Total monthly income equals $2,380/mo, and annual cash flow totals $2,703/yr on $114,368 invested. Return on cash invested prints 22.27% in year one, and rental yield reads 8.28% against a $345,000 entry. Equity gained on principal adds $2,226/yr, while 5% annual appreciation compiles into $95,317 by year five. Five-year ROI reaches 115.62% and total cumulative return in cash sums $132,232. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,380/mo property income covering a $1,689/mo payment, not borrower’s personal income.
Single Family
Built in 1978
10,018 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55041, Lake City, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,052 (100%) |
| Owner Occupied HU | 2,758 (68.1%) |
| Renter Occupied HU | 660 (16.3%) |
| Vacant Housing Units | 634 (15.6%) |
| Median Home Value | $329,484 |
| Average Home Value | $356,927 |
Housing Distribution
Address Breakdown
Residential
3,700
Single Family
3,279
Multi-Family
421
Businesses
248
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Diane Schurhammer • Schurhammer Real Estate, LLC
Mls Name: NorthStar MLS as distributed by MLS GRID
Mls Provider:
Mls ID: #6592759
Disclaimer: Based on information submitted to the MLS GRID as of 2024-10-15 08:41:18 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/info/mls-disclaimers/#mls_28) By searching Northstar MLS listings you agree to the [Northstar MLS End User License Agreement](https://static1.squarespace.com/static/56c4eea9d51cd483819dae7b/t/56cbe7e32fe13151e10e6b3d/1456203748061/EULA.pdf)