107 Grove Ave NPark RapidsMN56470
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 107 Grove Ave N, Park Rapids, MN, 56470 in Park Rapids at $179,900 earns $1,308/mo in rent and nets $185/mo after the $809/mo payment, a 8.72% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $49,703 over five years. Ziffy Mortgage underwrites this on a 1.62 DSCR without U.S. credit history. With $1,657/yr in principal paydown, total projected return reaches $80,182.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.7% | 6.0% |
| Monthly Cash Flow | $185 | $800 |
City averages based on Park Rapids market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,308 |
| Total Monthly Debt Service | $1,052 |
| DSCR Ratio | 1.24x |
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.
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
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
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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jack Brann • Affinity Real Estate Inc.
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #7002271