116 W Meade CtLuverneMN56156
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderAt $162,900, 116 W Meade Ct, Luverne, MN, 56156 in Luverne generates $1,079/mo in rent (7.95% yield) but nets only $62/mo after debt service. The spread is thin, manageable for investors comfortable with low-margin holds who are buying into the 5% annual appreciation thesis. Ziffy Mortgage's DSCR loan (1.47) allows non-U.S. residents to acquire without personal income checks. A larger down payment reduces the monthly debt load and widens the margin. Five-year appreciation: $45,006. Total projected return: $65,804.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8% | 6.5% |
| Monthly Cash Flow | $62 | $450 |
City averages based on Luverne market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,079 |
| Total Monthly Debt Service | $952 |
| DSCR Ratio | 1.13x |
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 1950
8,024 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56156, Luverne, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,809 (100%) |
| Owner Occupied HU | 1,829 (65.1%) |
| Renter Occupied HU | 772 (27.5%) |
| Vacant Housing Units | 208 ( 7.4%) |
| Median Home Value | $245,017 |
| Average Home Value | $293,069 |
Housing Distribution
Address Breakdown
Residential
2,727
Single Family
2,366
Multi-Family
361
Businesses
280
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 1950
8,024 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56156, Luverne, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,809 (100%) |
| Owner Occupied HU | 1,829 (65.1%) |
| Renter Occupied HU | 772 (27.5%) |
| Vacant Housing Units | 208 ( 7.4%) |
| Median Home Value | $245,017 |
| Average Home Value | $293,069 |
Housing Distribution
Address Breakdown
Residential
2,727
Single Family
2,366
Multi-Family
361
Businesses
280
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Keith Elbers • Real Estate Retrievers
Mls Name: Realtor Association of the Sioux Empire
Mls Provider:
Mls ID: #22502905
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