107 Grove Ave NPark RapidsMN56470
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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 Park Rapids at 107 Grove Ave N, Park Rapids, MN, 56470 uses $59,637 cash to close to unlock $2,210/yr annual cash flow and $184/mo monthly cash flow. Total monthly income runs $1,308/mo, and a $881/mo payment keeps the spread at $184/mo. Purchase price stands at $179,900, and rental yield measures 8.72% with $1,308/mo rent. Return on cash invested shows 23.61% in year one, and 5% annual appreciation builds toward $49,703 over five years. Five-year ROI reaches 122.86% and total cumulative return in cash records $73,269. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,308/mo property income covering a $881/mo payment rather than investor’s personal income.
Single Family
Built in 1960
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56470, Park Rapids, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,740 (100%) |
| Owner Occupied HU | 3,454 (44.6%) |
| Renter Occupied HU | 1,309 (16.9%) |
| Vacant Housing Units | 2,977 (38.5%) |
| Median Home Value | $326,377 |
| Average Home Value | $407,613 |
Housing Distribution
Address Breakdown
Residential
5,787
Single Family
5,077
Multi-Family
710
Businesses
542
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Listed by: Jack Brann • Affinity Real Estate Inc.
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #7002271