1321 Lake Dr #216ChanhassenMN55317
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThis is a cash-flow-light asset: 1321 Lake Dr #216, Chanhassen, MN, 55317 in Chanhassen, $294,900, 10.9% gross yield, $68/mo net income. Consider it a market-entry position, the $2,680/mo rent covers the $1,326/mo payment with a margin, and 5%/yr appreciation is projected to add $81,475 to the asset's value over five years. Ziffy Mortgage approves DSCR loans (coverage 2.02) for non-U.S. residents without domestic income documentation. Consider a higher down payment to widen the monthly margin. Total projected return: $165,849.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.9% | 6.5% |
| Monthly Cash Flow | $68 | $350 |
City averages based on Chanhassen market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,680 |
| Total Monthly Debt Service | $1,724 |
| DSCR Ratio | 1.55x |
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 2001
1,263 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55317, Chanhassen, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,594 (100%) |
| Owner Occupied HU | 6,898 (80.3%) |
| Renter Occupied HU | 1,476 (17.2%) |
| Vacant Housing Units | 220 ( 2.6%) |
| Median Home Value | $582,064 |
| Average Home Value | $660,906 |
Housing Distribution
Address Breakdown
Residential
8,864
Single Family
8,032
Multi-Family
832
Businesses
723
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 2001
1,263 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55317, Chanhassen, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,594 (100%) |
| Owner Occupied HU | 6,898 (80.3%) |
| Renter Occupied HU | 1,476 (17.2%) |
| Vacant Housing Units | 220 ( 2.6%) |
| Median Home Value | $582,064 |
| Average Home Value | $660,906 |
Housing Distribution
Address Breakdown
Residential
8,864
Single Family
8,032
Multi-Family
832
Businesses
723
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Matt Parrington • RE/MAX Results
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #7011240