1304 W Medicine Lake Dr APT 112MinneapolisMN55441
INVESTMENT ANALYSIS
Investment Verdict
Solid Income1304 W Medicine Lake Dr APT 112, Minneapolis, MN, 55441 in Minneapolis is a solid income-producing rental, 9.64% gross yield, $1,265/mo rent, $281/mo net cash flow on a $157,500 buy. DSCR 1.79 qualifies the property for Ziffy Mortgage's financing without personal income documentation. Five-year appreciation of $43,514 and $1,451/yr in principal reduction project a total cumulative return of $77,927.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.6% | 4.8% |
| Monthly Cash Flow | $281 | $850 |
City averages based on Minneapolis market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,265 |
| Total Monthly Debt Service | $921 |
| DSCR Ratio | 1.37x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, 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 1978
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55441, Minneapolis, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,220 (100%) |
| Owner Occupied HU | 4,409 (53.6%) |
| Renter Occupied HU | 3,378 (41.1%) |
| Vacant Housing Units | 433 ( 5.3%) |
| Median Home Value | $489,344 |
| Average Home Value | $556,378 |
Housing Distribution
Address Breakdown
Residential
8,208
Single Family
5,095
Multi-Family
3,113
Businesses
899
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 1978
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55441, Minneapolis, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,220 (100%) |
| Owner Occupied HU | 4,409 (53.6%) |
| Renter Occupied HU | 3,378 (41.1%) |
| Vacant Housing Units | 433 ( 5.3%) |
| Median Home Value | $489,344 |
| Average Home Value | $556,378 |
Housing Distribution
Address Breakdown
Residential
8,208
Single Family
5,095
Multi-Family
3,113
Businesses
899
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Patricia Schmidt-Iverson • Coldwell Banker Realty
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6731557