1304 W Medicine Lake Dr APT 309MinneapolisMN55441
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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
Investment property for sale in Minneapolis at 1304 W Medicine Lake Dr APT 309, Minneapolis, MN, 55441 earns $389/mo cash flow from $1,606/mo rent with a $954/mo payment. Total monthly income totals $1,606/mo, and annual cash flow totals $4,665/yr on $64,643 capital. ROI tracks 27.13% on current figures, and rental yield reads 9.88% at a $195,000 purchase. Equity gained on principal adds $1,258/yr, and 5% annual appreciation supports $53,875 over five years. Five-year ROI reaches 141.62% and total cumulative return in cash sums $91,546. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,606/mo property income instead of your personal income.
Condo
Built in 1978
3.45 Acres 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
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Listed by: Jacqueline Ann • Keller Williams Premier Realty Lake Minnetonka
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6771937