1516 E 4th 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 1516 E 4th Ave, Mitchell, SD, 57301 uses $71,936 cash to close to unlock $2,649/yr annual cash flow and $221/mo monthly cash flow. Total monthly income runs $1,592/mo, and a $1,062/mo payment keeps the spread at $221/mo. Purchase price stands at $217,000, and rental yield measures 8.8% with $1,592/mo rent. Return on cash invested shows 23.59% in year one, and 5% annual appreciation builds toward $59,953 over five years. Five-year ROI reaches 122.77% and total cumulative return in cash records $88,313. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,592/mo property income covering a $1,062/mo payment rather than investor’s personal income.
Single Family
Built in 1966
5,662 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 Provider:
Mls ID: #25-445
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.