12243 Fern Beach DrDetroit LakesMN56501
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
Rental property for sale in Detroit Lakes at 12243 Fern Beach Dr, Detroit Lakes, MN, 56501 generates $3,728/mo in rent, after a $5,139/mo payment. Total monthly income is $3,728/mo. Return on cash invested sits at 10.39% in year one, and rental yield is 4.26% on a $1,050,000 entry. Equity gained on principal adds $6,775/yr, while 5% annual appreciation builds toward $290,096 over five years. Five-year ROI reaches 51.79% and total cumulative return in cash sums $176,189. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,728/mo property income rather than buyer’s personal income.
Single Family
Built in 1942
0.29 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jenny Clouse • Modern Prairie Real Estate
Mls Name: FMARMLS
Mls Provider:
Mls ID: #6560364
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. The listing brokers offer of compensation is made only to participants of the MLS where the listing is filed.