1240 S 2nd St UNIT 1428MinneapolisMN55415
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
Investment Highlights
Investment property for sale in Minneapolis at 1240 S 2nd St UNIT 1428, Minneapolis, MN, 55415 offers a 5.91% rental yield on a $1,350,000 purchase with $6,650/mo rent. 41% in year one. Equity gained on principal adds $8,711/yr while 5% annual appreciation supports $372,980 over five years. Portfolio math shows five-year ROI at 48.7% and total cumulative return in cash at $213,017. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $6,650/mo property income against a $6,608/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 2017
N/A lot
$N/A/sqft
$1,608 monthly 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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Nearby investment properties with comparable prices
Listed by: Noelle Nielsen • Real Broker, LLC
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls Provider:
Mls ID: #6773007
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