111 N 3rd St UNIT 2012Grand ForksND58203
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayInvestors who prioritise long-run asset value over immediate income should consider 111 N 3rd St UNIT 2012, Grand Forks, ND, 58203 in Grand Forks. Rental yield 1.97%. At $699,000 with 1.97% gross yield, current distributions are modest, but the 5% appreciation rate projects $193,121 in new equity by year five, complemented by $6,438/yr in principal paydown. Ziffy Mortgage's DSCR loan (0.36) allows non-U.S. residents to acquire without W-2s or domestic credit. Total projected five-year cumulative return: $64,713.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 2% | 7.2% |
| Monthly Cash Flow | $(3,109) | $450 |
City averages based on Grand Forks market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,145 |
| Total Monthly Debt Service | $3,976 |
| DSCR Ratio | 0.29x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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.
Condo
Built in 2006
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 58203, Grand Forks, ND area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,325 (100%) |
| Owner Occupied HU | 3,013 (36.2%) |
| Renter Occupied HU | 4,169 (50.1%) |
| Vacant Housing Units | 1,143 (13.7%) |
| Median Home Value | $211,585 |
| Average Home Value | $226,882 |
Housing Distribution
Address Breakdown
Residential
7,267
Single Family
4,816
Multi-Family
2,451
Businesses
625
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
Condo
Built in 2006
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 58203, Grand Forks, ND area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,325 (100%) |
| Owner Occupied HU | 3,013 (36.2%) |
| Renter Occupied HU | 4,169 (50.1%) |
| Vacant Housing Units | 1,143 (13.7%) |
| Median Home Value | $211,585 |
| Average Home Value | $226,882 |
Housing Distribution
Address Breakdown
Residential
7,267
Single Family
4,816
Multi-Family
2,451
Businesses
625
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Kelly Thompson • Oxford Realty
Mls Name: GFBMLS
Mls ID: #25-1061