15665 N Grove Lake RdPelican RapidsMN56572
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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 Pelican Rapids at 15665 N Grove Lake Rd, Pelican Rapids, MN, 56572 offers a 6.58% rental yield on a $547,000 purchase with $3,000/mo rent. 29% in year one. Equity gained on principal adds $3,530/yr while 5% annual appreciation supports $151,126 over five years. Portfolio math shows five-year ROI at 88.85% and total cumulative return in cash at $159,892. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,000/mo property income against a $2,677/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 2010
5.01 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56572, Pelican Rapids, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,171 (100%) |
| Owner Occupied HU | 1,890 (45.3%) |
| Renter Occupied HU | 469 (11.2%) |
| Vacant Housing Units | 1,812 (43.4%) |
| Median Home Value | $364,686 |
| Average Home Value | $430,345 |
Housing Distribution
Address Breakdown
Residential
2,463
Single Family
2,300
Multi-Family
163
Businesses
191
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Listed by: Michelle Durensky • RE/MAX Legacy Realty
Mls Name: NorthstarMLS as distributed by MLS GRID
Mls ID: #6756881