1211 Lagoon Ave UNIT 308MinneapolisMN55408
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeHigh DSCR is a competitive advantage at closing. 1211 Lagoon Ave UNIT 308, Minneapolis, MN, 55408 in Minneapolis achieves 1.55, rent of $1,529/mo covers the $989/mo payment 1.5x over at $220,000. Rental yield 8.67%. That makes it both an efficient operational hold and a straightforward underwrite for Ziffy Mortgage's DSCR program. No domestic credit history or income documentation required. Appreciation at 5%/yr adds $60,782 over five years, with $2,026/yr in principal reduction bringing total projected return to $71,042.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.7% | 4.8% |
| Monthly Cash Flow | $(159) | $850 |
City averages based on Minneapolis market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,529 |
| Total Monthly Debt Service | $1,660 |
| DSCR Ratio | 0.92x |
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
0.54 Acres lot
$N/A/sqft
$374 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55408, Minneapolis, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,715 (100%) |
| Owner Occupied HU | 3,510 (17.8%) |
| Renter Occupied HU | 14,952 (75.8%) |
| Vacant Housing Units | 1,253 ( 6.4%) |
| Median Home Value | $476,777 |
| Average Home Value | $584,786 |
Housing Distribution
Address Breakdown
Residential
18,630
Single Family
5,757
Multi-Family
12,873
Businesses
1,472
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
0.54 Acres lot
$N/A/sqft
$374 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55408, Minneapolis, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,715 (100%) |
| Owner Occupied HU | 3,510 (17.8%) |
| Renter Occupied HU | 14,952 (75.8%) |
| Vacant Housing Units | 1,253 ( 6.4%) |
| Median Home Value | $476,777 |
| Average Home Value | $584,786 |
Housing Distribution
Address Breakdown
Residential
18,630
Single Family
5,757
Multi-Family
12,873
Businesses
1,472
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Kristine Busse • Gatehouse Properties LTD
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls Provider:
Mls ID: #6703815
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