1240 S 2nd St #1021MinneapolisMN55415
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayNot all U.S. investment properties are valued for current income. 1240 S 2nd St #1021, Minneapolis, MN, 55415 in Minneapolis at $1,160,000, 5.12% gross yield, is a market-growth asset. Rental yield 5.12%. The $4,954/mo rent partially funds the $5,216/mo debt service; the core return is the 5%/yr price growth projected to add $320,487 over five years. Ziffy Mortgage's DSCR mortgage (0.95) provides financing for foreign nationals without domestic income checks. A 30–35% down payment often produces the cleanest coverage for low-yield properties. Total five-year return: $292,786.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 5.1% | 4.8% |
| Monthly Cash Flow | $(3,495) | $850 |
City averages based on Minneapolis market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $4,954 |
| Total Monthly Debt Service | $6,782 |
| DSCR Ratio | 0.73x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 2019
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55415, Minneapolis, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,966 (100%) |
| Owner Occupied HU | 1,010 (20.3%) |
| Renter Occupied HU | 3,097 (62.4%) |
| Vacant Housing Units | 859 (17.3%) |
| Median Home Value | $647,758 |
| Average Home Value | $745,526 |
Housing Distribution
Address Breakdown
Residential
4,092
Single Family
120
Multi-Family
3,972
Businesses
388
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
Condo
Built in 2019
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55415, Minneapolis, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,966 (100%) |
| Owner Occupied HU | 1,010 (20.3%) |
| Renter Occupied HU | 3,097 (62.4%) |
| Vacant Housing Units | 859 (17.3%) |
| Median Home Value | $647,758 |
| Average Home Value | $745,526 |
Housing Distribution
Address Breakdown
Residential
4,092
Single Family
120
Multi-Family
3,972
Businesses
388
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #7035570