1108 W 3rd AveMitchellSD57301
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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
Rental property for sale in Mitchell at 1108 W 3rd Ave, Mitchell, SD, 57301 generates $1,283/mo in rent and, after a $808/mo payment, leaves $240/mo in cash flow. Total monthly income is $1,283/mo, and annual cash flow is $2,879/yr on $54,694 invested. Return on cash invested sits at 25.17% in year one, and rental yield is 9.33% on a $164,990 entry. Equity gained on principal adds $1,065/yr, while 5% annual appreciation builds toward $45,584 over five years. Five-year ROI reaches 131.22% and total cumulative return in cash sums $71,768. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,283/mo property income rather than buyer’s personal income.
Single Family
Built in 1910
7,100 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 57301, Mitchell, SD area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,154 (100%) |
| Owner Occupied HU | 4,924 (53.8%) |
| Renter Occupied HU | 3,257 (35.6%) |
| Vacant Housing Units | 973 (10.6%) |
| Median Home Value | $209,750 |
| Average Home Value | $268,574 |
Housing Distribution
Address Breakdown
Residential
8,580
Single Family
7,302
Multi-Family
1,278
Businesses
962
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Listed by: Patrick McGeough • Exit Realty Mitchell
Mls Name: Mitchell BOR
Mls ID: #25-442