118 N 3rd StGrand ForksND58203
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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 Grand Forks at 118 N 3rd St, Grand Forks, ND, 58203 priced at $795,000 converts $2,056/mo rent into after a $3,891/mo obligation. Total monthly income equals $2,056/mo. Return on cash invested prints 7.29% in year one, and rental yield reads 3.1% against a $795,000 entry. Equity gained on principal adds $5,130/yr, while 5% annual appreciation compiles into $219,644 by year five. Five-year ROI reaches 35.03% and total cumulative return in cash sums $91,618. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,056/mo property income covering a $3,891/mo payment, not borrower’s personal income.
Multi Family
Built in 1898
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
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Listed by: Jake R Ritterman • Dakota Commercial
Mls Name: GFBMLS
Mls Provider:
Mls ID: #25-620
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.