11494 Ravenswood Beach RdDetroit LakesMN56501
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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 Detroit Lakes at 11494 Ravenswood Beach Rd, Detroit Lakes, MN, 56501 offers a 0.81% rental yield on a $1,799,000 purchase with $1,220/mo rent. 25% in year one. Equity gained on principal adds $11,609/yr while 5% annual appreciation supports $497,031 over five years. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,220/mo property income against a $8,805/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1982
0.39 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56501, Detroit Lakes, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,550 (100%) |
| Owner Occupied HU | 5,565 (52.7%) |
| Renter Occupied HU | 2,196 (20.8%) |
| Vacant Housing Units | 2,789 (26.4%) |
| Median Home Value | $357,335 |
| Average Home Value | $436,261 |
Housing Distribution
Address Breakdown
Residential
8,830
Single Family
7,427
Multi-Family
1,403
Businesses
614
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Listed by: Eric Lundmark • Counselor Realty Detroit Lakes
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6745735