1229 Madison Ave APT 293Detroit 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 1229 Madison Ave APT 293, Detroit Lakes, MN, 56501 earns $183/mo cash flow from $864/mo rent with a $534/mo payment. Total monthly income totals $864/mo, and annual cash flow totals $2,194/yr on $36,134 capital. ROI tracks 25.98% on current figures, and rental yield reads 9.51% at a $109,000 purchase. Equity gained on principal adds $703/yr, and 5% annual appreciation supports $30,115 over five years. Five-year ROI reaches 135.49% and total cumulative return in cash sums $48,958. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $864/mo property income instead of your personal income.
Condo
Built in 1973
2,613 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: TJ Buboltz • HomeSmart Adventure Realty
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6824407