1229 S Garden StLake CityMN55041
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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
Rental property for sale in Lake City at 1229 S Garden St, Lake City, MN, 55041 priced at $249,900 converts $1,442/mo rent into after a $1,223/mo obligation. Total monthly income equals $1,442/mo. Return on cash invested prints 18.19% in year one, and rental yield reads 6.92% against a $249,900 entry. Equity gained on principal adds $1,613/yr, while 5% annual appreciation compiles into $69,043 by year five. Five-year ROI reaches 93.74% and total cumulative return in cash sums $77,654. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,442/mo property income covering a $1,223/mo payment, not borrower’s personal income.
Single Family
Built in 1960
9,147 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55041, Lake City, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,052 (100%) |
| Owner Occupied HU | 2,758 (68.1%) |
| Renter Occupied HU | 660 (16.3%) |
| Vacant Housing Units | 634 (15.6%) |
| Median Home Value | $329,484 |
| Average Home Value | $356,927 |
Housing Distribution
Address Breakdown
Residential
3,700
Single Family
3,279
Multi-Family
421
Businesses
248
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Nearby investment properties with comparable prices
Listed by: Mark Fayette • Shaymar, Inc.
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls Provider:
Mls ID: #6674749
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