1321 Garfield AveAlbert LeaMN56007
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 Albert Lea at 1321 Garfield Ave, Albert Lea, MN, 56007 uses $74,554 cash to close to unlock $8,993/yr annual cash flow and $749/mo monthly cash flow. Total monthly income runs $2,154/mo, and a $1,101/mo payment keeps the spread at $749/mo. Purchase price stands at $224,900, and rental yield measures 11.49% with $2,154/mo rent. Return on cash invested shows 31.97% in year one, and 5% annual appreciation builds toward $62,136 over five years. Five-year ROI reaches 167.62% and total cumulative return in cash records $124,969. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,154/mo property income covering a $1,101/mo payment rather than investor’s personal income.
Single Family
Built in 1956
0.29 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56007, Albert Lea, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,809 (100%) |
| Owner Occupied HU | 6,318 (64.4%) |
| Renter Occupied HU | 2,698 (27.5%) |
| Vacant Housing Units | 793 ( 8.1%) |
| Median Home Value | $183,496 |
| Average Home Value | $231,635 |
Housing Distribution
Address Breakdown
Residential
9,333
Single Family
8,163
Multi-Family
1,170
Businesses
806
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Jared Dawson • Leland Realty
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6773134