1102 3rd StBingham LakeMN56118
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThis Bingham Lake rental at 1102 3rd St, Bingham Lake, MN, 56118 sits in the solid-income band: 10.21% gross yield, $1,267/mo rent, $337/mo net after the $670/mo debt service, DSCR 1.89. Entry price of $149,000 is well-calibrated for the income it produces. Ziffy Mortgage finances this type of asset on rental income alone, no tax returns, no U.S. credit profile. Projected five-year appreciation of $41,166 and $1,372/yr in principal reduction bring total cumulative return to $78,196.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.2% | 6.2% |
| Monthly Cash Flow | $337 | $350 |
City averages based on Bingham Lake market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,267 |
| Total Monthly Debt Service | $871 |
| DSCR Ratio | 1.45x |
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 1912
1.98 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56118, Bingham Lake, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 187 (100%) |
| Owner Occupied HU | 142 (75.9%) |
| Renter Occupied HU | 25 (13.4%) |
| Vacant Housing Units | 20 (10.7%) |
| Median Home Value | $287,500 |
| Average Home Value | $304,225 |
Housing Distribution
Address Breakdown
Residential
169
Single Family
169
Multi-Family
0
Businesses
6
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 1912
1.98 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56118, Bingham Lake, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 187 (100%) |
| Owner Occupied HU | 142 (75.9%) |
| Renter Occupied HU | 25 (13.4%) |
| Vacant Housing Units | 20 (10.7%) |
| Median Home Value | $287,500 |
| Average Home Value | $304,225 |
Housing Distribution
Address Breakdown
Residential
169
Single Family
169
Multi-Family
0
Businesses
6
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Debra Buschena • Hometown Realty of Jackson County, LLC
Mls Name: NY State MLS
Mls ID: #11651737