1506 E 3rd AveMitchellSD57301
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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 Mitchell at 1506 E 3rd Ave, Mitchell, SD, 57301 earns from $1,434/mo rent with a $1,175/mo payment. Total monthly income totals $1,434/mo. ROI tracks 18.66% on current figures, and rental yield reads 7.17% at a $240,000 purchase. Equity gained on principal adds $1,549/yr, and 5% annual appreciation supports $66,308 over five years. Five-year ROI reaches 96.29% and total cumulative return in cash sums $76,610. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,434/mo property income instead of your personal income.
Single Family
Built in 1961
8,712 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 57301, Mitchell, SD area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,154 (100%) |
| Owner Occupied HU | 4,924 (53.8%) |
| Renter Occupied HU | 3,257 (35.6%) |
| Vacant Housing Units | 973 (10.6%) |
| Median Home Value | $209,750 |
| Average Home Value | $268,574 |
Housing Distribution
Address Breakdown
Residential
8,580
Single Family
7,302
Multi-Family
1,278
Businesses
962
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Listed by: Cheryl Weeman • Mitchell Realty LLC
Mls Name: Mitchell BOR
Mls ID: #25-308