1600 S Prairie AveFairmontMN56031
INVESTMENT ANALYSIS
Investment Verdict
Appreciation Play1600 S Prairie Ave, Fairmont, MN, 56031 in Fairmont is priced for appreciation, not yield. Rental yield 1.88%. At $460,000 with a 1.88% gross yield, the monthly income is modest, but 5% annual price growth is projected to add $127,090 in value over five years, making equity the primary return driver. Ziffy Mortgage's DSCR mortgage (0.35) can still finance this property for non-U.S. residents; a 30–35% down payment typically produces the cleanest underwriting for appreciation-focused assets. Total projected cumulative return: $36,032.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 1.9% | 6.5% |
| Monthly Cash Flow | $(2,152) | $350 |
City averages based on Fairmont market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $720 |
| Total Monthly Debt Service | $2,689 |
| DSCR Ratio | 0.27x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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.
Single Family
Built in 1993
0.78 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56031, Fairmont, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,928 (100%) |
| Owner Occupied HU | 3,642 (61.4%) |
| Renter Occupied HU | 1,745 (29.4%) |
| Vacant Housing Units | 541 ( 9.1%) |
| Median Home Value | $198,708 |
| Average Home Value | $255,511 |
Housing Distribution
Address Breakdown
Residential
5,694
Single Family
4,818
Multi-Family
876
Businesses
565
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
Single Family
Built in 1993
0.78 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 56031, Fairmont, MN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,928 (100%) |
| Owner Occupied HU | 3,642 (61.4%) |
| Renter Occupied HU | 1,745 (29.4%) |
| Vacant Housing Units | 541 ( 9.1%) |
| Median Home Value | $198,708 |
| Average Home Value | $255,511 |
Housing Distribution
Address Breakdown
Residential
5,694
Single Family
4,818
Multi-Family
876
Businesses
565
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices