1220 NW 3rd AveGrand RapidsMN55744
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
Investment Highlights
Total monthly income runs $1,926/mo, and a $3,084/mo payment. Purchase price stands at $630,000, and rental yield measures 3.67% with $1,926/mo rent. Return on cash invested shows 8.25% in year one, and 5% annual appreciation builds toward $174,057 over five years. Five-year ROI reaches 40.41% and total cumulative return in cash records $83,758. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,926/mo property income covering a $3,084/mo payment rather than investor’s personal income.
Multi Family
Built in 1985
1.14 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55744, Grand Rapids, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,024 (100%) |
| Owner Occupied HU | 6,248 (62.3%) |
| Renter Occupied HU | 2,270 (22.6%) |
| Vacant Housing Units | 1,506 (15.0%) |
| Median Home Value | $288,056 |
| Average Home Value | $348,710 |
Housing Distribution
Address Breakdown
Residential
9,649
Single Family
8,369
Multi-Family
1,280
Businesses
945
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Susie Williamson • Coldwell Banker Realty
Mls Name: NorthStar MLS as distributed by MLS GRID
Mls Provider:
Mls ID: #6550879
Disclaimer: Based on information submitted to the MLS GRID as of 2024-10-16 04:26:21 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/info/mls-disclaimers/#mls_28) By searching Northstar MLS listings you agree to the [Northstar MLS End User License Agreement](https://static1.squarespace.com/static/56c4eea9d51cd483819dae7b/t/56cbe7e32fe13151e10e6b3d/1456203748061/EULA.pdf)