1240 S 2nd St UNIT 1419MinneapolisMN55415
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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
Total monthly income runs $3,614/mo, and a $5,139/mo payment. Purchase price stands at $1,050,000, and rental yield measures 4.13% with $3,614/mo rent. Return on cash invested shows 9.99% in year one, and 5% annual appreciation builds toward $290,096 over five years. Five-year ROI reaches 49.63% and total cumulative return in cash records $168,845. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,614/mo property income covering a $5,139/mo payment rather than investor’s personal income.
Condo
Built in 2020
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
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Listed by: Aleksa Faye Montpetit • DRG
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6810891