149 Ridgeview LnElko New MarketMN55020
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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
Rental property for sale in Elko New Market at 149 Ridgeview Ln, Elko New Market, MN, 55020 priced at $498,639 converts $3,454/mo rent into $340/mo cash flow after a $2,441/mo obligation. Total monthly income equals $3,454/mo, and annual cash flow totals $4,078/yr on $165,299 invested. Return on cash invested prints 22.38% in year one, and rental yield reads 8.31% against a $498,639 entry. Equity gained on principal adds $3,218/yr, while 5% annual appreciation compiles into $137,765 by year five. Five-year ROI reaches 116.15% and total cumulative return in cash sums $191,988. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,454/mo property income covering a $2,441/mo payment, not borrower’s personal income.
Single Family
Built in 2025
8,276 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 55020, Elko, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,500 (100%) |
| Owner Occupied HU | 1,409 (93.9%) |
| Renter Occupied HU | 65 ( 4.3%) |
| Vacant Housing Units | 26 ( 1.7%) |
| Median Home Value | $469,749 |
| Average Home Value | $515,727 |
Housing Distribution
Address Breakdown
Residential
1,430
Single Family
1,430
Multi-Family
0
Businesses
87
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Listed by: Lennar Minnesota • Lennar Sales Corp
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #7008077