1240 S 2nd St UNIT 329MinneapolisMN55415
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 329, Minneapolis, MN, 55415 listed at $447,500 pairs $3,569/mo rent with a $2,190/mo payment to leave $49/mo cash flow. Total monthly income runs $3,569/mo, and annual cash flow reaches $585/yr on $148,346 cash to close. Return on cash invested measures 20.3% in year one, and rental yield registers 9.57% at a $447,500 basis. Equity gained on principal adds $2,888/yr, and annual property appreciation at 5% supports $123,636 by year five. Five-year ROI tracks 107.16% and total cumulative return in cash totals $158,965. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $3,569/mo property income relative to a $2,190/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 2017
4.27 Acres lot
$N/A/sqft
$700 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Laurie M Allen • Coldwell Banker Realty
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls Provider:
Mls ID: #6696783
Disclaimer: Based on information submitted to the MLS GRID as of 2025-04-05 11:08:11 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/mls-disclaimers/#28) By searching NorthstarMLS listings you agree to the [NorthstarMLS End User License Agreement](https://static1.squarespace.com/static/56c4eea9d51cd483819dae7b/t/56cbe7e32fe13151e10e6b3d/1456203748061/EULA.pdf)