1228 Kenneth StDetroit LakesMN56501
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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
Investment property for sale in Detroit Lakes at 1228 Kenneth St, Detroit Lakes, MN, 56501 uses $127,628 cash to close to unlock $7,383/yr annual cash flow and $615/mo monthly cash flow. Total monthly income runs $3,019/mo, and a $1,884/mo payment keeps the spread at $615/mo. Purchase price stands at $385,000, and rental yield measures 9.41% with $3,019/mo rent. Return on cash invested shows 25.69% in year one, and 5% annual appreciation builds toward $106,368 over five years. Five-year ROI reaches 133.95% and total cumulative return in cash records $170,962. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,019/mo property income covering a $1,884/mo payment rather than investor’s personal income.
Single Family
Built in 2007
10,454 sqft 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
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Listed by: Christopher Howard Nord • The Real Estate Company of Detroit Lakes
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6810111